Posts in Iraq Oil Law
- It wasn’t meant to be like this. After nearly a decade of war, chaos and bloodshed, the Iraqi oil industry was meant to be controlled by the bureaucrats and politicians from Baghdad. But Big Oil obviously has other ideas, and in the good old-fashioned way it will do deals with anyone it can so long...
Continue reading 'The New Iraqi Oil Rush'.
- So seven years later it will come down to this weekend. Whether President Obama can withdraw all American combat troops from Iraq by August will be decided by the Iraqi elections this weekend. If the election passes off peacefully, American soldiers will probably go home on schedule. But if there is a repeat of the...
Continue reading 'Oil “Dominating” Iraqi Election Campaign'.
- The British military may be gone, but the British oilmen are back. Today is the day that the oil men from BP take control of Iraq’s biggest oilfield: Rumaila. It is the first important oil deal since the 2003 invasion, and a long time since 1961 when Iraq passed Law 80 that wrestled back 99.5...
Continue reading 'Iraq: New “Colonial” Era of Oil Exploitation Begins'.
- So the great Iraqi oil sell-off continues. The embattled Iraqi Oil Minister Hussain al-Shahristani will today unveil the next round of oil contracts at a conference in Istanbul. Al-Shahristani is under pressure to pull in investment after the Iraqi government’s first round only secured one deal for the vast Rumaila field: BP and China National...
Continue reading 'Iraq Offers 2nd Round of Oil Bids'.
- After its offer was accepted last month to develop Iraq’s vast Rumaila oil field, BP may have thought it had won the biggest prize in the country’s oil race. But it may not be over yet and BP now faces industrial action. The trade union representing workers of Iraq’s state-owned Southern Oil Company (SOC) yesterday...
Continue reading 'Iraq Trade Union Threatens BP Deal'.
- This was not meant to happen. In the post-invasion planning of Iraq it was meant to be the American and British oil companies that enjoyed the spoils of war and access to the country’s lucrative oil reserves. But the Kurds keep putting a proverbial spanner in the works. Iraq’s Kurdish leaders adopted a new constitution...
Continue reading 'Kurds Stake Claim to their Oil Reserves'.
- Only last Thursday, the boss of oil company Shell Jeroen van der Veer suggested that the oil giant was interested in joining forces with China on a number of oil projects in Iraq. “We are in the process of forming partnerships for certain bids, and Chinese companies are a part of that,” he said. But...
Continue reading 'Iraq: Politicians Pledge to “Push Shell Out”'.
- Finally, slowly but surely the oil majors are getting what they want in Iraq. Forced into action over the low oil price, Iraq’s government is proposing to give foreign oil companies a majority stake in projects developing oil and gas fields. The Iraqis are also offering further new fields for development to foreign firms, which...
Continue reading 'Iraq Offers Concessions to Foreign Oil Companies'.
- Oil giants BP and Shell maintain that they are still negotiating about short-term oil contracts in Iraq, despite comments a few days ago to the contrary (see blog) . However, the controversial oil law, which is seen as the key that will unlock the jewels of Iraq’s oil reserves for the oil majors in now...
Continue reading 'Iraq Oil Law “On Ice”'.
- Four Democratic senators, including Senator Carl Levin have called on the State Department’s inspector general to investigate whether the agency encouraged lucrative oil deals between Iraq and several Western companies. Any back-room meddling would violate US administration policy, which was to discourage the business dealings until Baghdad passed the controversial Oil law, which has been...
Continue reading 'Democrats call for Investigation into Iraq Oil Deals'.
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