The boss of Total have complained about the way Iraq rudely wanted more money for its oil.

I think it is good that Iraq is demanding the money. It should support itself and its oil is the way to do that.

http://blogs.telegraph.co.uk/finance/rowen...-takes-a-stand/

This article though does miss some points. The industry is changing and the oil majors are changing the offer they make. They now generally focus on the more complex fields and technologically changing reserves (like deepwater GoM). This is where Exxon, BP, Shell, Conco and Chevron are competing. This is were Total aren't. Total are not fighting the other majors, they are fighting Chinese and smaller independents. These new entrants into the game don't have the expertise to go after the hard oil (very deepwater and complex geology).