The Mudcat Café TM
Thread #66696   Message #1930318
Posted By: Teribus
08-Jan-07 - 12:11 PM
Thread Name: BS: Oil will run out
Subject: RE: BS: Oil will run out
Very old news freda.

Saddam Hussein signed PSA agreements with Russian and French companies in exchange for weapons prior to Desert Storm and between 1991 and 2003 . As to who has what in Iraq at present please refer to the following:

Oil Exploration and Development Contracts with the former Iraqi Regime and Foreign Companies (source: World Markets Research Centre):
West Qurna Phase 2 (Lukoil - Russian);
Majnoon (Total - French);
Bin Umar (Zarubezhneft - Russian);
Nasiriya (Eni - Italian, Repsol - Spanish);
Halfaya (BHP - Australian, South Korean consortium, CNPC - Chinese, Agip - Italian);
Ratawi (Shell - Netherlands);
Tuba (ONGC - Indian, Sonatrach - BVI);
Suba-Luhais (Slavneft - Russian); Gharaf (TPAO - Turkish, Japex - Japan);
Al-Ahdab (CNPC - Chinese);
Amara (PetroVietnam);
Western Desert (ONGC - Indian, Pertamina - Indonesia, Stroitransgaz - Russian, Tatneft - Russian)

Only one PSA has been signed since March 2003 and that was for a small developement (Tawke Field) in the Kurdish North of the country the agreement having been signed between the Kurdish regional government and a small independent Norwegian company, DNO ASA.   The company, which is the operator of the block and has a 40 pct stake, the production sharing agreement was signed with the Kurdish authorities in June 2004.

From your article freda:
"oil majors such as BP and Shell in Britain, and Exxon and Chevron in the US, would be able to sign deals of up to 30 years to extract Iraq's oil."

Shell is the only named "major" of the "evil" USA/UK alliance that appears to be named. Unfortunately the Shell in this case is Dutch (Shell always has been a Dutch Company) But no BP, No Exxon, No Chevron. What you do have are previous agreements made with the Ba'athist Government being honoured with predominantly Russian, French and Chinese oil companies. This should not be all that surprising as they represent the countries who supplied Saddam Hussein with most of his weapons (93.4%):

Russia - supplied 68.9% of all weapons and military equipment between the years 1973 and 1990
France - supplied 12.7% over the same period
China - supplied 11.8% over the same period

But no doubt the same old chestnut will be trotted out regarding this "War for Oil" Myth. Here are the figures illustrating where the USA imports its oil from, in reading these please try and remember there are some here who want you to believe that the US and UK invaded Iraq to steal their oil:

October 2006 Import Highlights: Released on December 27, 2006
Monthly data on the origins of crude oil imports in October 2006 has been released and it shows that two countries have each exported more than 1.4 million barrels per day to the United States. Including those countries, a total of five countries exported over 1.0 million barrels per day of crude oil to the United States (see table below).

The top five exporting countries accounted for 66 percent of United States crude oil imports in October while the top ten sources accounted for approximately 86 percent of all U.S. crude oil imports.

The top sources of US crude oil imports for October were:
Canada (1.704 million barrels per day),
Mexico (1.481 million barrels per day),
Saudi Arabia (1.322 million barrels per day),
Venezuela (1.125 million barrels per day),
Nigeria (1.049 million barrels per day),
Angola (0.506 million barrels per day),
Iraq (0.505 million barrels per day),
Algeria (0.449 million barrels per day),
Ecuador (0.315 million barrels per day),
Kuwait (0.234 million barrels per day).

Total crude oil imports averaged 10.132 million barrels per day in October, which is a decrease of 0.571 million barrels per day from September 2006.

Canada remained the largest exporter of total petroleum products in October, exporting 2.144 million barrels per day to the United States. The second largest exporter of total petroleum products was Mexico once again (1.646 million barrels per day) which was a slight increase from last month of 0.077 million barrels per day.

Now, I may be a simple sailor, but if they need 10.13 million barrels of oil a day, and they decided to invade a country to "steal" it's oil, I would have thought that they would have selected a country that would be able to supply them with more than 500,000 barrels per day, don't you? Oh, and of course they are not "stealing" it they are paying for it.