Iran to invest $50 billion in oil sector

[lovuian]

http://feeds.bignewsnetwork.com/?sid=c37c1d5354f54cc5

"The rise in international oil prices has secured millions of dollars in additional revenues for Iran," he said.

that says it all Thanks Bush Thanks Saudis Thanks Chalibi Thanks Judith and Rummy for all these millions!!! LOL!!!:rofl:

and your going to jail too!!! Ya gotta love it!!!

[enid602]

1. timing

Very interesting timing. You can bet that none of the contracts will go to US firms for obvious reasons. I don't know how much of the work can be done by domestic Iranian firms, but I would bet that the lion's share of the $50B will be metted out to European, Canadian, Chinese and Japanese firms provided they don't side with the US with re: to UN sanctions and the US' escalation of tension aimed at Iran. This could get interesting.

[DemInDistress]

2. this is going to piss-off the Bush Crime Family

and Halliburton....I love it !!!!!!!!!!!!!!!

[lovuian]

3. So you guys get that Iran is going to use their MONEY to fight

Bush cause thats the ONLY thing that he seems interested in!!!

So ya Europe is going to stop or him side with him thats the Big ???????

[The_Casual_Observer]

4. Shouldn't Iraq be able to boast about profits like this too?

[lovuian]

8. Ya what are Iraq's oil profits??? wheres the numbers!!!

:bounce:

[legin]

5. Another guess

Taking the Sakhalin Island project as an example (although possibly tough to get at oil):

It cost $20 bn, although it says $12 bn here : http://www.hindu.com/2005/10/02/stories/2005100211600100.htm

for 0.25 million barrels per day.

so that works out at 0.0125 mbd per $billion

so that works out at 1.25 million barrels per day for the $100 billion being spent.

( * very iffy calculation alert * )

Could go with a figure of 1 mbd per $50 bn.

[legin]

6. My above looks like a bit of a mistake

have got $6.5 bn to produce between 0.3 - 1.4 mbd here:
http://66.102.9.104/search?q=cache:VuDnpzwwtkIJ:shelby.senate.gov/legislation/leg_pdf/anwr2.pdf+anwr+development+cost&hl=en

[legin]

7. And ANWR I think is quite tough oil to get at n/t

.