Iraqi oil is open for business

2008-06-22 22:10:14

#1

Vax: Member; +42|6274|Flyover country

Good news?
Could it help to moderate the world oil price spiral..

Iraq to award oil contracts to foreign firms

17 hours ago

BAGHDAD (AFP) — Iraq will award contracts to 41 foreign oil firms in a bid to boost production that could give multinationals a potentially lucrative foothold in huge but underdeveloped oil fields, an official said on Sunday.

"We chose 35 companies of international standard, according to their finances, environment and experience, and we granted them permission to extract oil," oil ministry spokesman Asim Jihad told AFP.

Six other state-owned oil firms from Algeria, Angola, Pakistan, Thailand, Turkey and Vietnam will also be awarded extraction deals, Jihad said.

The agreements, to be signed on June 30, are expected to be short-term arrangements although the ministry has yet to provide a timeframe.

The deal paves the way for global energy giants to return to Iraq 36 years after late dictator Saddam Hussein chased them out, and is seen as a first step to access the earth's third largest proven crude reserves.

"They will have the first right to develop the fields," said Jihad, adding that competitive bidding would come later once the nation's long-delayed hydrocarbon law is passed by parliament.

Iraq wants to ramp up production by 500,000 barrels per day from the current average production of 2.5 million barrels per day (bpd), a level about equal to before the US-led invasion in March 2003.

http://afp.google.com/article/ALeqM5hl8 … UBNxwjbQrA

http://news.google.com/news?hl=en&q … p;ct=title

2008-06-22 22:12:33

#2

God Save the Queen: Banned; +628|6765|tropical regions of london

that guy's name is Jihad

2008-06-22 22:22:02

#3

Vax: Member; +42|6274|Flyover country

God Save the Queen wrote:
that guy's name is Jihad

Noticed that too

Perhaps not a good sign.

Meh, Jihad basically just means "mission" or something similar -- it has gotten a bad rap.

2008-06-22 22:26:53

#4

Kmar: Truth is my Bitch; +5,695|7023|132 and Bush

Vax wrote:
God Save the Queen wrote:
that guy's name is Jihad
Noticed that too

Perhaps not a good sign.

Meh, Jihad basically just means "mission" or something similar -- it has gotten a bad rap.

To struggle.

Xbone Stormsurgezz

2008-06-22 22:29:01

#5

Vax: Member; +42|6274|Flyover country

Kmarion wrote:
Vax wrote:
God Save the Queen wrote:
that guy's name is Jihad
Noticed that too

Perhaps not a good sign.

Meh, Jihad basically just means "mission" or something similar -- it has gotten a bad rap.
To struggle.

That's the word. TY

2008-06-22 22:44:00

#6

SpIk3y: Minister of Silly Walks; +67|6561|New Jersey

According to Team America: World Police, a Jihad is something you "put" on someone

Anyway, according to that article, Iraq will be producing oil at the same rate that it was before the invasion. Damn, it sure took a while!

2008-06-23 01:11:44

#7

Dilbert_X: The X stands for; +1,822|6528|eXtreme to the maX

Iraqi oil is open for exploitation by Western companies

Fixed

Fuck Israel

2008-06-23 01:38:08

#8

Braddock: Agitator; +916|6712|Éire

Imagine the little annoying kid at school that no one likes but always has a load of sweets...the big bully kid has finally beaten up the little annoying kid and is now sharing out his sweets to all his friends. Is that fair?

2008-06-23 02:23:01

#9

Varegg: Support fanatic :-); +2,206|7232|Nårvei

OPEC have increased their production by 200.000 barrels pr day and if Iraq now can supply an extra 500.000 that may very well send the price down under $100 again soon ... heard a comment from a US analyst claiming it would still go higher but it dropped 3 days last week and is expected to drop further this week, will be interesting to follow when the markets opens today ...

Wait behind the line ..............................................................

2008-06-23 02:25:57

#10

GateKeeper{NL}: Member; +142|6791

the blame of the high Oil price is not the producing country's but our goverment's that put tax on it

in holland, 1 liter of fuel is (im not sure) 1.63 Euro's without the tax it would be 70~90 cent's, they have to cut the taxes

2008-06-23 02:32:26

#11

Varegg: Support fanatic :-); +2,206|7232|Nårvei

GateKeeper{NL} wrote:
the blame of the high Oil price is not the producing country's but our goverment's that put tax on it

in holland, 1 liter of fuel is (im not sure) 1.63 Euro's without the tax it would be 70~90 cent's, they have to cut the taxes

Actually it is speculators that are to blame for high prices ... it has little to do with production and even less to do with taxes ...

Wait behind the line ..............................................................

2008-06-23 02:35:53

#12

GateKeeper{NL}: Member; +142|6791

Varegg wrote:
GateKeeper{NL} wrote:
the blame of the high Oil price is not the producing country's but our goverment's that put tax on it

in holland, 1 liter of fuel is (im not sure) 1.63 Euro's without the tax it would be 70~90 cent's, they have to cut the taxes
Actually it is speculators that are to blame for high prices ... it has little to do with production and even less to do with taxes ...

agreed, but in my country the tax is 70% of the price for oil, so taxes are a deal here..

2008-06-23 02:59:47

#13

JahManRed: wank; +646|7050|IRELAND

Varegg wrote:
OPEC have increased their production by 200.000 barrels pr day and if Iraq now can supply an extra 500.000 that may very well send the price down under $100 again soon ... heard a comment from a US analyst claiming it would still go higher but it dropped 3 days last week and is expected to drop further this week, will be interesting to follow when the markets opens today ...

I don't think it will ever drop bellow 100$ again. The panic has started and the oil companies are coining it in.

2008-06-23 03:00:07

#14

Varegg: Support fanatic :-); +2,206|7232|Nårvei

GateKeeper{NL} wrote:
Varegg wrote:
GateKeeper{NL} wrote:
the blame of the high Oil price is not the producing country's but our goverment's that put tax on it

in holland, 1 liter of fuel is (im not sure) 1.63 Euro's without the tax it would be 70~90 cent's, they have to cut the taxes
Actually it is speculators that are to blame for high prices ... it has little to do with production and even less to do with taxes ...
agreed, but in my country the tax is 70% of the price for oil, so taxes are a deal here..

That's about the same all over Europe ... and taxes on gas have not been adjusted much lately thus not being the reason for the huge increase in the price of gas ... in addition to yes seeing as the tax is a percentage of the total price but not the main contributor ...

Wait behind the line ..............................................................

2008-06-23 03:02:14

#15

Varegg: Support fanatic :-); +2,206|7232|Nårvei

JahManRed wrote:
Varegg wrote:
OPEC have increased their production by 200.000 barrels pr day and if Iraq now can supply an extra 500.000 that may very well send the price down under $100 again soon ... heard a comment from a US analyst claiming it would still go higher but it dropped 3 days last week and is expected to drop further this week, will be interesting to follow when the markets opens today ...
I don't think it will ever drop bellow 100$ again. The panic has started and the oil companies are coining it in.

Give it two weeks

Wait behind the line ..............................................................

2008-06-23 07:05:02

#16

Adams_BJ: Russian warship, go fuck yourself; +2,055|7045|Little Bentcock

Holy shit, back to the same levels before the war? God I hope the price of fuel drops down around the AU$1.00 per litre mark again.

2008-06-23 08:23:12

#17

God Save the Queen: Banned; +628|6765|tropical regions of london

Dilbert_X wrote:
Iraqi oil is open for exploitation by Western companies
Fixed

boo fucking hoo

2008-06-23 09:04:17

#18

too_money2007: Member; +145|6730|Keller, Tx

Good, get that shit over here and lower the prices, now bitches!

Jihad!

2008-06-23 09:18:25

#19

m3thod: All kiiiiiiiiinds of gainz; +2,197|7093|UK

too_money2007 wrote:
Good, get that shit over here and lower the prices, now bitches!

Jihad!

nah. Terrorists will start blowing up oil pipelines next. The day gas being the same price as piss is over.

I hear walking is good for you.

Blackbelts are just whitebelts who have never quit.

2008-06-23 10:47:36

#20

God Save the Queen: Banned; +628|6765|tropical regions of london

Dilbert_X wrote:
Iraqi oil is open for exploitation by Western companies
Fixed

news article wrote:
Iraq has announced that it will award contracts to 41 foreign oil firms out of which 35 will be to companies of international standards. Six state-owned companies from Turkey, Vietnam, Pakistan, Thailand, Angola and Algeria will also be awarded extraction deals, according to an AFP report.

I hate the west

2008-06-23 10:48:51

#21

God Save the Queen: Banned; +628|6765|tropical regions of london

m3thod wrote:
nah. Terrorists will start blowing up oil pipelines next. The day gas being the same price as piss is over.

I hear walking is good for you.

thats pretty much whats been going on for the last 5 years. when I was there, I think they only had one refinery running. the militias would sabotage the lines.

they have military contractors instead of the military defending them

Last edited by God Save the Queen (2008-06-23 10:49:34)

2008-06-23 11:31:58

#22

Vax: Member; +42|6274|Flyover country

I hear attacks on oil infrastructure are down so that's helpful -- they are seeing profits already because of the high price. If the troublemakers could put it together that stop fukin with oil pipelines= more money to help rebuild their own neighborhoods, that would be great.
Wishful thinking probably.

2008-06-23 11:37:06

#23

Vax: Member; +42|6274|Flyover country

Varegg wrote:
GateKeeper{NL} wrote:
the blame of the high Oil price is not the producing country's but our goverment's that put tax on it

in holland, 1 liter of fuel is (im not sure) 1.63 Euro's without the tax it would be 70~90 cent's, they have to cut the taxes
Actually it is speculators that are to blame for high prices ... it has little to do with production and even less to do with taxes ...

Why I was wondering if this news might help things. It will be a while before it really takes effect, but speculators ... I mean this is a huge field opening up.

I doubt we will ever see 40 dollar a barrel crude again, but lately it seems like there is no ceiling to it -- I have predicted we will see 5 dollar gas at the pump this summer, hoping to be wrong.

2008-06-23 11:41:03

#24

m3thod: All kiiiiiiiiinds of gainz; +2,197|7093|UK

Vax wrote:
I hear attacks on oil infrastructure are down so that's helpful -- they are seeing profits already because of the high price. If the troublemakers could put it together that stop fukin with oil pipelines= more money to help rebuild their own neighborhoods, that would be great.
Wishful thinking probably.

Its physically impossible to protect the pipeline infratrcture:

Sabotage will continue.

Blackbelts are just whitebelts who have never quit.

2008-06-23 17:17:16

#25

FEOS: Bellicose Yankee Air Pirate; +1,182|6833|'Murka

God Save the Queen wrote:
Dilbert_X wrote:
Iraqi oil is open for exploitation by Western companies
Fixed
news article wrote:
Iraq has announced that it will award contracts to 41 foreign oil firms out of which 35 will be to companies of international standards. Six state-owned companies from Turkey, Vietnam, Pakistan, Thailand, Angola and Algeria will also be awarded extraction deals, according to an AFP report.
I hate the west

Those West Vietnamese just can't be trusted.

“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular

BF2S Forums Iraqi oil is open for business

God Save the Queen wrote:

Vax wrote:

God Save the Queen wrote:

Kmarion wrote:

Vax wrote:

God Save the Queen wrote:

GateKeeper{NL} wrote:

Varegg wrote:

GateKeeper{NL} wrote:

Varegg wrote:

GateKeeper{NL} wrote:

Varegg wrote:

GateKeeper{NL} wrote:

JahManRed wrote:

Varegg wrote:

Dilbert_X wrote:

too_money2007 wrote:

Dilbert_X wrote:

news article wrote:

m3thod wrote:

Varegg wrote:

GateKeeper{NL} wrote:

Vax wrote:

God Save the Queen wrote:

Dilbert_X wrote:

news article wrote:

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