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TOTAL moves for Iraq oil



from Dawn Star, Paris, Euro-Burmanet
http://www-uvi.eunet.fr/asia/euro-burma
June 10 
Iraq, France Conduct Oil-for-Food Talks

PARIS (Reuter) - Iraqi Oil Minister Amir Muhammad Rasheed
met French government and oil industry officials on Monday to
discuss oil exports in exchange for food and medicines after the
United Nations relaxed a 1990 trade embargo.
<p>
	    Oil group Total SA said executives met Rasheed to talk about
oil deals and other business matters but no contract had been
signed.
<p>
	    ``Mr. Rasheed met this morning with the top management of
Total as part of his visit to France during which he is meeting
government officials and representatives of other companies,'' a
Total spokeswoman said.
<p>
	    ``We have talked in particular about the relaxation of
United Nations (Security Council) resolution 986 and our further
business interests in Iraq,'' she added.
<p>
	    Under an oil-for-food deal signed with the United Nations on
May 20, Baghdad can export oil worth $2 billion over six months
to buy food and medicines. Iraq wants to double that amount.
<p>
	    The U.N. decision relaxed an embargo in place since 1990
when President Saddam Hussein's troops invaded Kuwait. France
and Iraq had close commercial ties before the invasion.
<p>
	    Rasheed, a lieutenant-general, met Industry Minister Franck
Borotra on Saturday and had talks with the foreign ministry's
most senior civil servant, Bertrand Dufourcq, on Monday.
<p>
	    Foreign Minister Herve de Charette was travelling with Prime
Minister Alain Juppe in Canada.
<p>
	    ``This visit allows us to underline that resolution 986
still requires full Iraqi cooperation with the special
commission of the United Nations and with the AIEA (atomic
agency) about disarmament,'' foreign ministry spokesman Jacques
Rummelhardt told journalists.
<p>
	    Rasheed flew to Paris on Saturday after a ministerial
meeting of the Organisation of Petroleum Exporting Countries
(OPEC) in Vienna where the cartel raised its output ceiling by
800,000 barrels per day to 25.03 million barrels per day to
accommodate resumed exports by Iraq.
<p>
	    A spokesman for Elf Aquitaine declined to say whether
executives of his group were meeting Rasheed.
<p>
	    At the French employers' organisation CNPF, officials were
busy organising a Tuesday ``working session'' between French
companies and Rasheed.
<p>
	    ``It's all a bit in a hurry because Rasheed only told us on
Thursday that he was coming. We are going to talk about the
relaxation of the embargo and its implications,'' a spokeswoman
said, adding that the companies involved concerned both the oil
industry as well as food, construction and drugs companies.
<p>
	    Iraq's State Oil Marketing Organisation (SOMO) is hosting
talks in Paris until Wednesday about resuming commercial
relations. The list of invited companies includes Spain's Cepsa
SA and Repsol SA, Italy's Agip as well as the Greek and Turkish
state oil firms.
<p>
	    Iraq plans to export 450,000 barrels per day via Turkey and
330,000 through the Gulf terminal of Mina al-Bakr.
<p>
	    France has supported Iraq's efforts to get the embargo
relaxed and Rasheed said in Vienna he would sign contracts first
with ``friendly'' countries such as France and Russia.
<p>
	    Elf and Total have already concluded preliminary agreements
to drill for oil when the embargo is lifted and have reinforced
their commercial presence in Iraq.