Our leaders moved quickly to secure most of Iraq's oil assets.

"We're not threatening because we are not striving to get an equity position in the oil assets."

That was before a previous populist government nationalized foreign oil assets in the 1970's.

In late July, the government took steps aimed at confiscating the company's largest oil asset as payment for the huge tax bill.

The question is: Who will the superpower allow to own those oil assets?

By contrast, the pursuit of Britoil is seen as a straightforward attempt to acquire oil assets.

It was also argued that the foreign and particularly communist ownership of oil assets could represent a regional and economic security risk.

People close to the talks said Tyumen's owners planned to consolidate their oil assets.

"It gives Lukoil control over much of the major oil assets in northwest Russia."

"The Saudis deserve credit for having a very robust surveillance and detection system on their oil assets," the official said.