http://www.cnn.com/2003/BUSINESS/04/09/bp.reut/BP maps out Iraq strategy
World's No. 3 oil company is getting ready to work on the world's second largest reserves of crude.Wednesday,
April 9, 2003 Posted: 2:04 AM EDT (0604 GMT)
LONDON, England (Reuters) -- British oil company BP PLC has put a team to work on a strategy for its future in oil-rich Iraq, people familiar with the situation said Tuesday.
The news follows a meeting in London at the weekend where Iraqi exiles and U.S. state department officials agreed that international oil firms should take a leading postwar role in reviving Iraq's oil industry.
Oil companies and the U.S. and British governments have been unwilling to talk openly about the future of the oil industry in Iraq.
They fear fueling accusations that the invasion of the country by U.S. and British troops was motivated by a desire to get western hands on the world's second largest reserves of crude.
But concerns are already growing among European companies that a U.S.-dominated postwar administration will give first bite of the Iraq oil cherry to its own companies.
In February this year, as war clouds gathered, BP Chief Executive John Browne voiced those concerns, saying: "The most important thing for us is that there remains a level playing field when it comes to consideration for activity in Iraq."