Oil majors maneuver for prime position in Iraq

[leftchick]

http://today.reuters.com/news/articlenews.aspx?type=reutersEdge&storyID=2006-08-23T113700Z_01_L17768112_RTRUKOC_0_US-ENERGY-IRAQ-INVESTMENT.xml

LONDON (Reuters) - The world's top oil companies are maneuvering intently to win a stake in their oilfield of choice when Iraq finally opens to multibillion dollar investment.

From a safe distance, multinationals are poring over data from Iraq's most promising oilfields and some of its older workhorses to gain the edge when the bidding begins.

Iraqi Oil Minister Hussain al-Shahristani has signaled the race for oilfield deals worth $20 billion could start this autumn. But oil men, noting a lack of security and investment law, are under no illusion that drilling is imminent.


"We've been doing a lot of work behind the scenes and are ready to act quickly -- but under the right conditions," said a senior Western oil executive.

"At this stage, there is an effective short list of key oilfields and players. It's been a natural selection."

[acmavm]

1. The 'world's top oil companies'? Why do I find it hard to believe

that the US is going to let it be open bidding for the oil rights?

Am I just too jaded & cynical or what?

[leftchick]

5. no doubt the fix is in

Didn't Dick have this all planned out in 2001? Here are the players...

<snip>

They want a transparent process where the best bid wins and are fully aware of the desire of the majors -- Shell (RDSa.L: Quote, Profile, Research), Exxon Mobil (XOM.N: Quote, Profile, Research), BP (BP.L: Quote, Profile, Research), Total (TOTF.PA: Quote, Profile, Research) and Chevron (CVX.N: Quote, Profile, Research) among them -- for Iraq's cheap and easy-to-produce oil.

[acmavm]

7. That's what I meant. No Russian oil companies, etc.

I wonder exactly how the Iraqi 'insurgency' feel about this. :sarcasm:

[Demeter]

2. Hope They Are Ready For a Long Wait

Hell may freeze over before Iraq is safe for anything or anybody, especially if they don't get the bush baby out of there.

[stepnw1f]

3. There are Your WMD's (nt)

[Jacobin]

4. They might as well be waiting to drill for oil on the moon

Iraq is an active war zone and will be until we leave, at which time new deals will have to be made with whoever emerges as the new military dictator.

[bullimiami]

6. they will buy off the objectors with part of the massive oil profit.

or they will keep getting their stuff blown up.