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Graeme
Fission
Joined: Mar 04, 2005
Posts: 2729
Location: New Zealand
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 Posted: Mon Jun 30, 2008 11:32 pm Post subject: Iraq to Open Oil Fields for 35 Foreign Companies |
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Iraq to Open Oil Fields for 35 Foreign Companies
| Quote: | Iraq announced Monday that it was opening six key oil production fields to more than 30 foreign companies, while delaying an announcement on a series of no-bid consulting contracts with a handful of Western oil companies.
Iraq’s oil minister, Hussain al-Shahristani, speaking at a news conference here, said Iraq would begin taking bids later this year for longer-term contracts on six of its oil fields. Thirty-five foreign companies have qualified to participate. Winners will be announced in 2009, Mr. Shahristani said.
Iraq hopes to almost double its production, to 4.5 million barrels of oil a day over the next five years from the current 2.5 million barrels, Mr. Shahristani said. The contracts are aimed at helping the country do that.
Iraq had been expected on Monday to issue its first contracts to foreign oil companies that would provide technical support and help raise Iraqi oil production ahead of awarding lucrative long-tern contracts.
Those initial short-term contracts, with Exxon Mobil, Shell, Total, BP and Chevron, are still under negotiation, a person close to the talks said, and will probably be completed in the next month.
Bloomberg News quoted the chief executive of Shell, Jeroen van der Veer, as saying at the World Petroleum Congress in Madrid that the company expected to sign oil agreements with Iraq in “a matter of weeks.”
A major legal question hangs over the process: Iraq has yet to pass a law that divides oil revenue among all parts of the country.
Iraq has some of the largest oil reserves on earth, but they are largely untapped because the country has long lacked the resources to develop them. The companies will provide equipment and expertise to refurbish the country’s aging infrastructure. |
nytimes
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Human history becomes more and more a race between education and catastrophe. H. G. Wells.
Fatih Birol's motto: leave oil before it leaves us. |
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americandream
Fission
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Joined: Oct 18, 2004
Posts: 2097
Location: kiwibush
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| Posted: Tue Jul 01, 2008 12:48 am Post subject: Re: Iraq to Open Oil Fields for 35 Foreign Companies |
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What do you make of this Greame me ol mate?
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Bugger me, I hear oil's runnin out mate! |
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Pops
Moderator
Joined: Apr 03, 2004
Posts: 6942
Location: My Grandkids' Farm
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Pops
Moderator
Joined: Apr 03, 2004
Posts: 6942
Location: My Grandkids' Farm
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| Posted: Tue Jul 01, 2008 1:05 pm Post subject: Re: Iraq to Open Oil Fields for 35 Foreign Companies |
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Crap the oil price ticker dropped $2 since I posted that...
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Make a plan and work it: |
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heroineworshipper
Intermediate Crude
Joined: Jul 14, 2006
Posts: 723
Location: Calif*
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| Posted: Tue Jul 01, 2008 4:41 pm Post subject: Re: Iraq to Open Oil Fields for 35 Foreign Companies |
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They since had 35 suicide bombings. Now the 35 foreign companies are no longer with us. Maybe they'll open some oil fields to foreign politicians next.
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People first, then things, then dollars.
There will be enslavement, cannibalism, & zombie invasions. |
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Toyota
Coal
Joined: Jun 26, 2008
Posts: 15
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| Posted: Wed Jul 02, 2008 7:37 am Post subject: Re: Iraq to Open Oil Fields for 35 Foreign Companies |
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this is robbery!   |
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TommyJefferson
Light Sweet Crude
Joined: Aug 19, 2004
Posts: 1752
Location: Republic of Texas
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| Posted: Wed Jul 02, 2008 12:40 pm Post subject: Re: Iraq to Open Oil Fields for 35 Foreign Companies |
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Traditionally, when one nation conquers another, the winners get to loot the losing country.
The Neocons can't even do a good old fashion war of empire right.
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Conform . Consume . Obey . |
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lawnchair
Intermediate Crude
Joined: Oct 20, 2004
Posts: 786
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| Posted: Wed Jul 02, 2008 12:58 pm Post subject: Re: Iraq to Open Oil Fields for 35 Foreign Companies |
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I'm still hoping against hope that the contracts go to *someone else*. Lukoil, Sinopec, Aramco... I really don't care. I don't want to pay to babysit the oil wells any more.
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At 1% annual growth, human bodies will incorporate every gram in the observable universe in approximately 10,170 years. |
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Serial_Worrier
Heavy Crude
Joined: Jun 05, 2008
Posts: 276
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| Posted: Wed Jul 02, 2008 1:24 pm Post subject: Re: Iraq to Open Oil Fields for 35 Foreign Companies |
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| TommyJefferson wrote: | Traditionally, when one nation conquers another, the winners get to loot the losing country.
The Neocons can't even do a good old fashion war of empire right. |
More obsession about fictional "neocons".  |
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vampyregirl
Heavy Crude
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Joined: Dec 19, 2007
Posts: 342
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| Posted: Wed Jul 02, 2008 9:06 pm Post subject: Iraq |
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{thread merged by moderator}
I am hearing that insurgent attacks on US troops has declined considerably in recent months and Exxon and other producers are bidding on Iraqui concessions. So Bush has gotten what he wanted in Iraq? |
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rider
Tar Sands
Joined: Apr 12, 2005
Posts: 46
Location: Lost in space.
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| Posted: Wed Jul 02, 2008 9:15 pm Post subject: Re: Iraq |
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| vampyregirl wrote: | | I am hearing that insurgent attacks on US troops has declined considerably in recent months and Exxon and other producers are bidding on Iraqui concessions. So Bush has gotten what he wanted in Iraq? |
Only time will tell. |
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