Shell, China firms eye Iraq oil – report

BAGHDAD / IraqiNews.com: The Wall Street Journal on Tuesday reported that Royal Dutch Shell PLC is in advanced talks with China’s two biggest state-owned oil companies on a possible joint bid to develop the Kirkuk oil field in northern Iraq, a person familiar with the situation said. Shell, China National Petroleum Corp. and China Petrochemical Corp. have yet to decide on their stakes in the venture, this person said. Shell offered CNPC a 15% stake, but CNPC has sought around 20%, the person said. CNPC is the parent of PetroChina Co. MH (P) / SS 1