Exxon, Shell: Iraq oil law needed for deal

[sabra]

Source: UPI

HOUSTON, Feb. 13 (UPI) -- Iraq's legal framework is still uncertain, Big Oil firms say, though negotiations on oil and gas deals are ongoing and could wrap up by next month.

"Shell along with other major international oil companies are quite interested in future possibilities in the country of Iraq," Shell Gas and Power Executive Director Linda Cook said Wednesday at an international energy conference in Houston.

Iraq has the world's third-largest reserves of oil and sizeable gas reserves but is largely undeveloped and underexplored. Shell, ExxonMobil, BP and Chevron are in discussions with Iraq's Oil Ministry for special technical support contracts, a first step in Iraq's long-awaited development of its energy sector.

...

"We have stated that we are interested in pursuing those when the conditions are right," Cook said, "conditions meaning safety and security of our own staff plus making sure that we're doing it in accordance with the laws that would be enacted by the country including the new oil law which has yet to be put through final legislative approval."



Read more: http://www.upi.com/International_Security/Energy/Briefing/2008/02/13/exxon_shell_iraq_oil_law_needed_for_deal/9680/

[gateley]

1. I've no doubt that if things had gone like Bushco planned, Exxon and Shell

would be happily exploring and refining away right now....

[sabra]

2. then Blackwater, Bechtel, KBR wouldn't have made their millions

from the last 5 years of chaos...

[gateley]

3. Ah, but they would have found opportunities to make their millions elsewhere.

I'm sure we could have moved on and created chaos in other areas. :eyes:

[thunder rising]

5. I agree, if the management of the first war was done right we could have been in and out of Iran and

Syria by now and probably working on "liberating" the African continent.

[Peace Patriot]

12. How about this for a chaos-creator in "other areas"?

"The Smart Way to Beat Tyrants Like Chávez," by Donald Rumsfeld, 12/1/07
http://www.washingtonpost.com/wp-dyn/content/article/2007/11/30/AR2007113001800.html


He's got Oil War II: South America all mapped out. And Exxon Mobile fired the first shot the other day, with its attempt to freeze $12 billion in Venezuelan assets, over a dispute about Venezuela's 60% share in its own oil profits. But Exxon Mobile--which last quarter reported the biggest profits of any U.S. corporation ever--isn't interested in Venezuela's assets. It's interested in toppling the region's leading leftist government, destroying Venezuela's hard won sovereignty and re-installing fascist regimes throughout the region, to regain control of the oil fields in Venezuela, Ecuador, Bolivia and Argentina (all leftist governments, allied with each other).

He won't succeed. The leftist movement in South America is too strong. But he can...guess what? ...create lots of chaos--suffering, starvation, civil disorder, bloodshed--in the process, and, after the chaos cauldron is stirred, he urges "swift" U.S. action in support of "friends and allies" in South America. Whatever does he mean?

[Supersedeas]

4. Condi says, "In due time, my sweetie, alllllll in due time."

[rpannier]

10. If it had gone the way DUH-bya and his cronies had planned

Iraq would have been partioned into three states by now:

Exxonistan
Chevronstan
and
Shelland

[Sam Ervin jret]

6. REALLY!! They're interested? Who would have guessed that?

I'm shocked and surprised. What A turn of events. And here we have a president and VP both oil men just about to leave office and they could probably , you know, help or something with this. Like with a company, an oil company. And they maybe even own some oil stuff, not that that would influence any of the decisions they make or made.:sarcasm: :sarcasm:

Really somebody get me a bucket or something I feel sick:puke: :puke:

these people literally make me sick

[Baby Snooks]

7. The benchmark

Every time the administration talks about the Iraqi government reaching "benchmarks" with regard to establishing a "stable" government, the oil law is always on the list. It is the only benchmark.

They will never get the oil. Just as they never got the oil in Iran.

[Amonester]

8. see a partial list of these pigs' victims at www.icasualties.org

http://icasualties.org/oif/

who's gonna do them justice?

[whistle]

9. Is that the oil law which allows foreign companies to loot and plunder

...Iraq's oil reserves until total depletion giving almost nothing back to the Iraqi people?

[QUALAR]

11. THE PURPLE FINGER WAVE

True to form, Bush in his wisdom and zeal to established a semblance of democracy has created an insurmountable obstacle to an oil agreement. He should have completed this rip off of the Iraqis while there was a puppet government in place. No, he was too eager for the Iraqis to dip their fingers in purple ink not realizing that the resulting Constitution would give legitimacy and support for resistance to this obvious theft. He's created a sense of nationalism that's allowing freedom to ring loud and clear. Unfortunately, Bush doesn't like the sound.

[liberal N proud]

13. More than 4000 US soldier dead

Countless wounded and untold numbers of Iraqis dead and they still haven't gotten their hands of the prize they went after in the first place.

I am sure that is the top thing on bu$hs agenda this last year.

[Acadia Blue]

14. Killing for American corporations is an American ideal

[MasonJar]

15. Exxon is the most detestable company on the planet. They can go straight to hell.

[whosinpower]

16. I've said it before and I'll state it again

As far as the oil companies are concerned, the Iraq war has been a monumental windfall for them - regardless of whether they are pumping or not....

Should instability continue(as it will under any occupation) - oil prices will remain at record prices....and it becomes more profitable for them to not produce at capacity than to produce and increase supply.

If the oil law does not pass - my prediction will be that the US will stay in Iraq for as long as it takes to foment instability in the region. If the oil law passes, the US will get out, and dribble oil out of the fields at a fraction of what Hussein was doing for decades. Either way - as a consumer - we have to get used to high energy prices, and the likes of Exxon and Shell will be able to drill where they wish.

The breaking point will be the US economy, often considered unbreakable given consumer appetites.

I heard some predictions up here in Canada regarding oil revenues - and they expect revenues to be at record highs for the next two years....and then when undislosed areas are opened up for drilling - then world prices to fall. Two years.....how long would it take to open up a field in Iraq?????

And on another front - real estate prices....we were advised to wait 16 months-2 years before considering purchasing real estate in the US. The predictions are that real estate down there is still overvalued - and the crunch has not yet trully hit the US. For real estate speculators - the advice is wait. For us, up here, we are seeing record real estate prices - up 40% last year and expected to rise again this summer. There are some who are considering selling up here and buying down there when prices are low. Wait, we were told....our prices will get higher and yours will get much lower within the next 2 years.