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Watching The World: Japan cheers Iraq deal

12/21/2009
By Eric Watkins
Has Japan really succeeded in its long-term effort to secure a foothold in Iraq's oil and gas industry? Apparently so, especially after a consortium led by Japan Petroleum Exploration Co. (Japex) won the rights to develop Gharaf oil field.In Japan, the news was met with elation. The Nikkei Business Daily (NBD) said the deal gives Japex the chance to become "a player to be reckoned with in an industry that has been dominated by Western energy giants."NBD said the prize is a result of 10 years of effort led by Japex Chairman Yuji Tanahashi that may lay the foundation for the formation of a Japanese major and make Japex a driving force of industry consolidation."We have built ...
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