Russia's LUKoil signs memorandum agreement with Iraq

[NNN0LHI]

http://story.news.yahoo.com/news?tmpl=story&ncid=1504&e=7&u=/afp/20040311/bs_afp/iraq_russia_us_oil_040311084317

MOSCOW (AFP) - Russia's oil giant LUKoil announced that it had signed a framework agreement with the oil ministry of Iraq (news - web sites) that will decide how the company will operate in the war-torn nation.


"A cooperation agreement has been signed in Baghdad" on Wednesday, a company spokesman told AFP by telephone Thursday.


A statement from Russia's number two oil producer quoted LUKoil chief Vagit Alekperov as saying that he signed a "memorandum of understanding and future cooperation" during a meeting with Iraq's new oil ministry officials in Baghdad.


Alekperov said the signing was a positive step, but did not disclose further details of the agreed document.

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[jmcgowanjm]

1. Russia signed with the US first

Quid pro quo for building pipeline to Nakohdka/Japan
rather than to China.

Also Russia wants a "new approach" to the WWII
islands it borrowed from Japan.