New contracts signed to increase fuel imports (into Iraq)

[Robbien]

The Ministry of Oil has signed new contracts with Iranian and Turkish firms for the delivery of fuel products, the ministry announced in a statement.

Iraq, though sitting on massive oil reserves, suffers from acute fuel shortages. Its fuel import bill is estimated at more than $500 million a month.

The new contracts, according to the statement, will make available “280,000 metric tons of gasoline and 175,000 of diesel fuel” this year.

The imports will include 175,000 of fuel gas for the country’s ailing power plants.

http://www.azzaman.com/english/index.asp?fname=news%5C2006-07-13%5C135.htm

[whistle]

1. That should push crude oil prices to $100.00 pbl by late summer

[Amonester]

2. Is it because ExxonMobil, Shell, British Petroleum, and Co.

steal it all (as per some "secret energy policy" drafted in Deadeyed Dick's *palace*)?

[Robbien]

4. No. The BigOil does get to take Iraqi crude

but they are supposed to leave whatever crude Iraqi refineries need. As luck would have it, Iraqi refineries were not guarded during the invasion and are no longer capable of supplying Iraqi needs.

So a win/win for BigOil and a lose/lose for Iraqis.

[acmavm]

3. This is a perfect example of how 'well' things are going in

Iraq.

[partylessinOhio]

5. Well, that fits. I heard a report yesterday (I think on CNN) that our oil

reserves are way down. Now, I see the reason.