Iraqi oil minister stands by Shell gas deal

Iraq's oil minister defended on Monday a multi-billion dollar natural gas deal signed with Royal Dutch Shell (RDSa.L) last year as lawmakers vow to revoke an agreement they say will be costly for Iraq. Hussain al-Shahristani, speaking on the sidelines of a conference in Baghdad, said contrary to statements from members of parliament's oil and gas committee, the initial agreement would not allow Shell to set the price for gas sold within Iraq's domestic market. Some parliamentarians have complained the government of Prime Minister Nuri al-Maliki, in addition to running afoul of Iraqi law by failing to get parliamentary approval for the deal, allowed Shell to set unfavourable terms for Iraq.
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