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With only TotalFinaElf and ChevronTexaco confirmed, the conference hosted by the Iraqi Oil Ministry, which is seeking for ways to better exploit the Iraq’s vast reserves, may seem a tad un-attended. Security fears and concerns over safety are the main reasons given for the high pull-out rate by some of the world’s largest oil companies.
BP has made it clear it will not be at the meeting in Basra. According to a BP spokesperson, “We are not going because of the security situation.” Royal Dutch/Shell is still undecided and ExxonMobil has issued a “no comment” but is not expected to attend.
The conference would have been the first gathering of the world’s energy powerbrokers to discuss Iraq’s oil and gas future. Now, according to ministry officials, the new venue in Basra will “help to accommodate 70 delegations who will discuss reconstruction plans”.
