Here are a couple of stories on Exxon/Mobile getting contracts for oil in Iraq. In respect for the sources, I'll just offer the beginning of each piece. You can click on the links to see the rest of each of these.
From the Guardian:
Exxon was awarded a contract to extract oil from the West Qurna reservoir near Basra in Iraq's south during an extended tender process that has seen the Iraqi government partner foreign firms in a bid to get its reserves of oil out of the ground as cheaply and quickly as possible.The American energy giant ExxonMobil today won the right to develop one of the world's most prized untapped oil reserves, in a $50bn (£30bn) deal that will entrench the company as one of the largest players in postwar Iraq.ExxonMobil wins $50bn contract to develop West Qurna oilfield
West Qurna was considered the jewel in the nine Iraqi oil and gas fields up for grabs, with verified reserves of 15bn barrels and a strong chance that exploration will reveal significantly more.
Iraqi oil minister Hussain Shahristani said the contract stipulated a $25bn investment and $25bn more in operating fees. It is also expected to yield up to 100,000 jobs in the impoverished deep south of the country that was heavily blighted by insurgency throughout the past five years.
"Iraq will get great benefits from developing the sector and providing services for the people," said Shahristani in Baghdad's oil ministry. "After decades of oppression and tyranny, Iraq is getting back its riches for this generation and for the next."
Here's the view from countercurrents.org
The Plunder Of Iraq’s Oil
By James Cogan11 November, 2009
The awarding of development rights over the huge West Qurna oilfield in southern Iraq to Exxon-Mobil and Royal Dutch Shell last Thursday once again underscores the criminal character of the continuing US-led occupation. As the direct result of the Iraq war, major American and other transnational energy conglomerates are now gaining control over some the largest oilfields in the world.
West Qurna has proven reserves of 8.7 billion barrels of oil. Iraq’s total reserves are currently put at 115 billion barrels, though dozens of potential fields have not been explored adequately. Before the US invasion in 2003, rights over West Qurna had been awarded by the Baathist regime of Saddam Hussein to the Russian oil firm, Lukoil. The pro-US puppet regime in Baghdad has torn up all pre-war contracts.
Exxon-Mobil is the first US-based oil giant to benefit. Under the terms of a 20-year contract, Exxon-Mobil and Shell plan to boost daily production at West Qurna from less than 300,000 barrels to 2.3 million barrels per day over the next six years. As well as the Iraqi government compensating the companies for the cost of upgrading the field—which may run as high as $50 billion—they will be paid $1.90 for each barrel extracted, or some $1.5 billion per year. Exxon-Mobil holds an 80 percent stake and Shell the remaining 20 percent.
From the Wall Street Journal:
Exxon-Led Consortium Wins Iraq Oil Contract
By GINA CHON
BAGHDAD—The Iraqi Oil Ministry on Thursday said it has awarded a consortium led by Exxon Mobil Corp. and Royal Dutch Shell PLC the right to develop the West Qurna-1 oil field, representing the first American-led team gaining access to the country's oil patch.
The pact is the latest in a series of deals Iraq has recently signed or initialed with some of the world's biggest oil companies. Earlier this week, Iraqi officials completed a final agreement with BP PLC and China National Petroleum Corp. and an initial agreement with a consortium led by Italy's Eni SpA. U.S. oil company Occidental Petroleum Corp. participated as a junior partner in the Eni-led team.
American haters, including many US citizens have chosen to condemn this great country for any and all actions! They do not and never will admit the boundless benefits the world has reaped from American bounty and charity, instead they detest and hope for the downfall of the most productive nation to ever be! There are nations all over the globe that have better lives and freer lives because of American companies exploring and producing whatever natural resources that nation has to export.Left wing zealots will always equate any American involvement with exploitation, but that is not true! I've often wished that "left wingers' all over the world could be magically be transported into a dimension with no United States, no capitalism, and no remnants of American achievements or contributions to the world! How many nations would be truly free, how many earthlings would have electricity, running water or even canned food? Unbelievably , humanity may eventually get a chance to experience such a
ReplyDelete"dimension" as "eco-progressives"in America and world wide seek the ultimate equality of nations, but the cold hard fact is that with their plans, Namibia will not become Americas' equal, America and the world will become Namibias' equal!
Stone.mike64 - Did you write this comment because of something you read in this post? Or is this a general comment that you post all over the net?
ReplyDeleteI ask that in complete sincerity since you haven't addressed anything specific in the post. Are there any factual errors that you noticed that you can point out?
I'm not sure whom your comment is aimed at. I've posted four different perspectives on this. Is this aimed at all of them? At me? At one of them?
Are you saying that the US is beyond criticism in all it does? Are you saying that American business interests around the world only cause good and no harm to local interests?
How is it that you know the motivation of these writers and can identify them as America Haters?
For instance you write "America Haters . . . have chosen to condemn this great country for any and all actions!" It seems to me that the two writers here who are critical of this oil deal are specifically writing about related Iraq war business connections. How do you know what they would say about the discovery of penicillin or polio vaccine? Or the establishment of water and sewer systems in poorer countries?
Do you yourself only say good things about the United States? Do you support everything the American government does? If you have ever criticized the action of the US, a US organization, or a US president, someone could use your own logic to accuse you of being an America Hater based on your criticism of one event.
I'd be interested in hearing a response to these questions and perhaps more about your background that gives you such strong passion on these issues.