This link has been bookmarked by 3 people . It was first bookmarked on 18 Aug 2008, by Alfred Chan.
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10 Sep 08
eufoaguilarThe country is awash with oil money but still lacks a proper
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20 Aug 08
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Though oil revenue from the fields INOC runs is meant to be distributed across Iraq in accordance with population, the Kurds want to benefit more directly from the development of new fields in their area and from future exploration.
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Though oil revenue from the fields INOC runs is meant to be distributed across Iraq in accordance with population, the Kurds want to benefit more directly from the development of new fields in their area and from future exploration.
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Though oil revenue from the fields INOC runs is meant to be distributed across Iraq in accordance with population, the Kurds want to benefit more directly from the development of new fields in their area and from future exploration.
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18 Aug 08
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IN THE second quarter of the year,
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Iraq’s oil production averaged over 2.4m barrels a day, the highest level since America invaded Iraq in 2003, and a marked improvement on last year’s average of around 2m b/d
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Iraq produced 3m b/d as recently as October 2001
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Russia
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expanding Iraq’s output from existing big fields should cost $1-3 a barrel
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the United States has paid for a project to reduce sabotage to a pipeline that links the Kirkuk oilfield, one of the country’s biggest, to the main outlets for exports—ports in the south and a pipeline north to Turkey. The Kirkuk-Baiji pipeline (see map) is now protected on either side by a ditch, a dirt barrier, a fence topped with razor wire, and three more rolls of razor wire on the ground. There are two guardhouses at every road crossing; the government has recruited local tribesmen suspected of mounting many past attacks to man them and conduct patrols. Oil has flowed freely since the construction of these defences began last summer. The American army says that, as a result, exports in the 11 months to May went up by 91m barrels, worth an extra $8.2 billion.
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Iraq’s government
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is negotiating contracts with the biggest Western oil firms, including Exxon Mobil, BP and Total, to refurbish five of the country’s biggest oilfields. It hopes this will raise output by 500,000 b/d. Though Mr Shahristani said the deals would be signed “within weeks” in January, they have yet to materialise.
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is negotiating contracts with the biggest Western oil firms, including Exxon Mobil, BP and Total, to refurbish five of the country’s biggest oilfields. It hopes this will raise output by 500,000 b/d.
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INOC would not have the capacity to transport all the extra oil even if it could be produced.
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And the oil giants would not station any staff in Iraq, as it is still too dangerous; they would send only equipment and advice.
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Four American senators have asked for an investigation. Dennis Kucinich, a congressman, has proposed a law to ban American oil firms from seeking contracts in Iraq.
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Perhaps spurred by this fuss, Mr Shahristani said last month that Iraq would let 45 firms bid for another round of contracts, which he hopes to award next year. Details are scant but it seems these would last for as long as ten years; unlike the short-term ones, they would require participants to team up with an Iraqi partner.
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Workers at the South Oil Company, an INOC subsidiary that controls the majority of Iraq’s production, have been protesting against the proposed oil law. The government, in turn, has reassigned several prominent employees and split the firm in two—hardly a top priority for the industry.
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