Iraq ready to pump oil

[namvet]

BAGHDAD — Iraq is on the verge of approving its first significant deals with major Western oil companies since the war began, the government said Thursday — a move that could give big firms like BP, Shell, ExxonMobil and Total an important boost as the country's oil industry expands and grows more lucrative.

The deals, expected to be signed by the end of June, are designed as an interim way to boost Iraq's oil output until the country can agree on a new national oil law, stalled by political squabbles among Sunnis, Shiites and Kurds.

But the deals also could create an important long-term preference for the big Western companies that win them, by providing a bidding advantage over others in future years.

Iraq's Oil Ministry spokesman would not name the companies set to get the deals.

story

maybe we can tell the dems and OPEC where to shove that pipeline

[Aklover]

They should sell only to coalitian (in Iraq) forces at about $80 per barrel as a thank you.

[lacarnut]

They should sell only to coalitian (in Iraq) forces at about $80 per barrel as a thank you.

I think they should repay us with free oil for all the money we have spent in this shithole country. Same with Kuwait.

[Aklover]

I think they should repay us with free oil for all the money we have spent in this shithole country. Same with Kuwait.

They have to rebuild then build more.

[marinejcksn]

I think they should repay us with free oil for all the money we have spent in this shithole country. Same with Kuwait.

I think a 65% stake in all their oil production is a fair deal. We've spent over 500 Billion helping them out, I've personally given 7 months of my life for those people with another 7 month tour coming up in a few days, I think we deserve it. But that'll give the hippies the perfect opportunity to scream, "SEE? It WAS just about Oil!" so I don't think we'll do it. Our government doesn't have the stones to stand up and have a backbone anymore.:mad:

[Apocalypse]

This is a great move, and one that may and I stress the word may help ease the pain we are feeling at the pump as more oil is made available on the market.

As far as being repaid for all we have spent/done, that will likely come in the form of a nice plak hanging on some wall. But don't expect financial comp for this.

[SarasotaRepub]

Most Excellent! My eeeevil Halliburton stock is sure to rise. :D

[lacarnut]

Most Excellent! My eeeevil Halliburton stock is sure to rise. :D

Your are correct. The contracts are for technology services and equipment procurement. The Iraq's will furnish their own employees to do the actual drilling and will rely on the expertise of those oil company employees. Once they learn from us, they may boot us out.

[Nubs]

Most Excellent! My eeeevil Halliburton stock is sure to rise

I will second that observation. KBR is in process of buying BE&K, a large international construction firm