Petrel commits to Iraq
Iraq: Monday, September 24 - 2007 at 06:29
The UK based Petrel, an oil company which focuses on operations in Iraq, has revealed its interim pre-tax losses have increased to around $420m, reported the Financial Times. But the firm is writing off its present overheads and stated that its longer-term involvement in the war-torn nation would pay off. Petrel presently services oil fields on behalf of Iraq's Ministry of Oil and expects to increase its presence in the country.
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Jonathan Sheikh-Miller, Deputy EditorMonday, September 24 - 2007 at 06:29 UAE local time (GMT+4)
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