China to charge $6 a barrel to develop Iraq field

[sabra]

Source: AFP

BAGHDAD (AFP) — Iraq on Tuesday cleared a plan to develop an oil field by China Petroleum National Corp. at a service fee of six dollars a barrel, giving Beijing a foothold into the world's third largest oil reserves.

Iraqi Oil Minister Hussein al-Shahristani said the cabinet had approved the three-billion-dollar deal that will see China's state-owned company developing the Al-Ahdab oil field in the central Shiite province of Wasit.

"The Chinese company will charge six dollars per barrel of production as service fees which would decrease gradually to three dollars," Shahristani told reporters inside Baghdad's heavily fortified Green Zone.

He said the plan is to be produce 25,000 barrels of oil per day in the first three years.

Read more: http://afp.google.com/article/ALeqM5hFjzC4w9eyBxorYWgMJ_qvaMm_5w

[redqueen]

1. This ought to cheer up the republican base...

[fascisthunter]

6. lol

because we know their base invests in oil

[pattmarty]

2. This compared to Exxon/Mobil and the rest of the vultures.......

.........practically taking over ownership of the oil fields. Let's see.......... take it in the ass by the Americans or take a FAIR deal by the Chineese.........mmmmmmmmmmmmmmm.

[WriteDown]

4. Chinese fair?

I'd like to see some links on how Exxon/Mobil "took over" oil fields. Its the Iraqis oil to do with as they wish so this decision is alright by me.

[pattmarty]

5. What the hell do you think we are doing.................

......in Iraq? All the talk about what "deals" are to be given to the large oil companies in the way of 30 yr contracts. Where the hell have you been? You did say one thing right; "its the Iraqis oil to do with as they wish.....", and good for them, it looks like that's exactly what they're doing.

[WriteDown]

7. So you have no links....

to back up those claims. I think Iraq is a bungled war, but I want facts before I start throwing out accusations.

[pattmarty]

8. Fuck links!!!! What in the hell do you think the US has been.........

......doing with the "talks" between both governments? This was all over the papers & TV some months ago about getting contracts for the big oil co's where they would have 30 year exclusive contracts on Iraqi oil. You bought it up and I responded, and I ain't going to be a fucking research library looking up a link to make you happy. If you post on this board I would think you smart enough to know about this shit.

[WriteDown]

10. Baseless accusations for all!!!

Here! Here! I actually heard that the trilateral commission is the real owner of all the oil fields in Iraq :tinfoilhat: :sarcasm:. So if Exxon has 30 year exclusive contracts then how did the Chinese get in there? Your accusations seem kind of flimsy and the fact that your can't back them up says a lot.

[yurbud]

11. and ExxonMobil claimed they couldn't afford to do it if they didn't get 88% of profits under PSAs

[Javaman]

3. I'm waiting for the Iranians to sign a protection of the oil fields deal with

china as well.

now that would put morons* plan of bombing Iran back to the stone age into a whole new light, huh?

[oldskool]

9. We are in Iraq because

Iraq and possibly Iran would not trade in US dollars,on the NY
stock exchange,and use NY banks. It's always been about
globalization. This is a fact. The manipulated oil prices have
been paying off third world countries debt by US taxpayers at
the price of one trillion a year. Why are the candidates not
talking about the facts?  Because they are globalists.

[redqueen]

12. ...

:kick:

[dipsydoodle]

13. Main thing is

the marker price has now been agreed by the Chinese : six dollars per barrel of production as service fees which would decrease gradually to three dollars.

So now the US cowboys know what they need to compete against - don't they Tonto.