As the Western oil majors squabble with Iraq over technical contracts, they have been out-maneuvered by the Chinese in the greater race to sign the first significant contract with the war-torn country. The first major oil deal Iraq has signed since 2003 is not with BP or Shell but with China’s biggest oil company, state-run … Read More
Iraq
Iraq Oil Law “On Ice”
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 … Read More
Iraq “Abandons” Contracts
The problem when you have been waiting years for the main prize is that if you get offered second or third best, its never going to be good enough. So when a host of international oil companies started discussions over short-term technical contracts in Iraq, they hoped that they would curry favour with the country … Read More
Democrats call for Investigation into Iraq Oil Deals
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 … Read More
Guess Who Helped Draw Up Iraqi Ministry Oil Contracts … The Americans
This is one of those stories that although you should be outraged about it, you re not surprised at all about it, because you suspected it all along. On the day that five foreign oil companies get their grubby hands on contracts to help develop Iraq’s oil, the NYT reveals that a small State Department … Read More
The long wait to claim the prize draws to an end
The long wait may finally be over to claim the last great prize left for the oil industry. But not, importantly, how the oil industry, or the Bush administration wanted it to. Some 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power, four Western oil companies are in the … Read More
Iraq to discuss Oil Law (Again!)
Kurdistan’s Prime Minister Nechirvan Barzani has confirmed that discussions with Baghdad over Iraq’s controversial oil law would continue within two weeks. “We will be traveling to Baghdad to start negotiations on the oil law in two weeks. It’s important that we agree on the law otherwise foreign companies won’t come to invest in our region.”
Iraq Exports Reach Post-War High
Maybe those people who gave the green light to invade Iraq really did have a crystal ball. Maybe five years ago they could have foreseen record energy prices and a frenzy about oil supply and demand. Because amidst all the panic about dwindling supply, one country has actually increased production. Iraq has raised oil exports … Read More
Iraq “Has Largest Oil Reserves”
As the world rapidly runs out of oil, one place seems to be swimming in the stuff, and no prizes for guessing who that is … Iraq has dramatically increased the official size of its oil reserves after new data suggested that they could exceed Saudi Arabia’s and be the largest in the world.
“Hands Off Iraqi Oil” Protest @ Shell AGM
Anyone with time on their hands and a conscience in their heart should head down to Shell’s AGM tomorrow, to join the Corporate Pirates, listen to music from The Carbon Town Crier or comedy from Hands ON Iraqi Oil. Go and show solidarity with the people of Rossport Ireland, Nigeria, Canada and beyond, who are … Read More