To the Victor, Go the Spoils,.IRAQ Opens Up for Foreign Oils

Western producers haven't had access to oil fields in southern Iraq since 1972, when the country nationalized production including concessions owned by the companies now known as BP, Royal Dutch Shell Plc and Exxon.

BP Plc and Exxon Mobil Corp. took the best deal they could get in Iraq last year when they won the largest oil contracts since addam Hussein was toppled in 2003. Oil companies may wait a long time to get a better one.

A group led by BP, which vies with Shell as Europe's largest oil company, will receive $2 billion per year in fees to develop the Rumaila field. A Shell-led group will get $913 million and a group led by Exxon, the largest U.S. oil company, will receive $1.6 billion per year. Each calculation is based on the agreed-to per-barrel fee times the maximum production level.

"We see this as the beginning of a long-term relationship with Iraq and will continue to look for further opportunities," Andy Inglis, BP's chief executive for exploration and production, said on a conference call March 2.

Glad this was all about freeing the Iraqi People, would be a shame though, to let
all that Oil just sit there.

www.businessweek.com...

Busy news day ,

One bump, then the bone yard

reply to post by Sean48


I think there were a few more threads with this topic that day. It's a much over-looked issue though...

The more I think about it the madder I get...BUT I guess it is fair. If corporations run our country, then why shouldn't they get the spoils?

[atsimg]http://files.abovetopsecret.com/images/member/259fc69ad537.jpg[/atsimg]

Classic. Now it's official...

Unreal, and on the same day when Iran's largest supplier of oil, tell's them it's quit's.... crazy times indeed...

www.ynetnews.com...

Another news source on the same story, regarding Iran and it's oil cutoff...






www.reuters.com...

On a side note, and completely unrelated I'm sure (sic) looks like Iraq is ordering some airplanes as well....

Iraq orders 10 Boeing 787s
The government of Iraq ordered 10 Boeing Dreamliners at the end of last year.

By Seattle Times staff

Related

Boeing's Dreamliner No. 2 flying to California for flight tests
Boeing, Turkish Airlines finalize 20-plane order
The government of Iraq ordered 10 Boeing Dreamliners at the end of last year.

The order is worth about $1.7 billion at list prices. Allowing for standard market discounts estimated by aircraft valuation firm Avitas, the actual purchase price is about $1.1 billion.

In a move spotted by aviation blogger Uresh Sheth, Boeing identified the previously booked order when it updated its online jet order database last week.

The order is the second major Boeing sale to the Iraqi government since the fall of Saddam Hussein.

In 2008, Iraq ordered 30 single-aisle 737s, worth $2.3 billion at list prices or an Avitas-estimated actual price of about $1.4 billion.