I cant find any information on the oil situation in Iraq. I cant find anywhere how much is being produced (barrelled).
Whos making money?
2007-03-08 13:56:07 · 17 answers · asked by emotional_reunions 1 in Politics & Government ➔ Politics
Included are links to the U.N. Security Council's current assessment of Iraq's oil situation. In short, Iraqi oil production remains in flux while the sects of Islam involved in Council decide on how to distribute revenues.
2007-03-08 13:59:48 · answer #1 · answered by Anonymous · 1⤊ 1⤋
So it is official. Iraq's oil fields are to be sold off to giant multinational oil companies. The writing was on the wall from the very beginning. An empire in search of new resources to conquer. It "sure" is just a coincidence that Iraq sits on the second largest oil reserves on the planet. Thank goodness for "Bin Laden" or all the hundreds of billions of sweet crude money would be lost. Several hundred thousand lives later and the spoils of Empire are vanquished.
Without oil our future is grim. Does the means justify the end
Iraqi Cabinet approves draft oil law
By ROBERT H. REID, Associated Press Writer 23 minutes ago
http://news.yahoo.com/s/ap/iraq_oil_law;_ylt=AgB96qiF4wsiod7Exqilc12s0NUE
2007-03-08 14:50:31 · answer #2 · answered by lalalalaconnectthedots 5 · 1⤊ 0⤋
1/2 goes to the US and 1/2 to Europe! I used to have the figures, but will have to find them!
Shell along with Chevron, BP and seven other oil giants, have won contracts to buy Iraq's new oil production of Basra Light crude. The contracts cover production from the Mina Al-Bakr port in southern Iraq from August to December of this year. Under the deal, Iraq will supply 645,000 barrels per day (bpd) for export, an increase on the 450,000 bpd produced in July but still just a third of pre-war levels.
BP and Shell will each send one very large tanker every month to Iraq to pick up their two million barrels. Among the other companies that have signed deals to buy the oil are ConocoPhillips, Valero Energy and Marathon Oil, Total of France, Sinochem of China and a company from the Mitsubishi group, which is buying for Japanese refineries.
Iraq's northern export pipeline from the Kirkuk fields through Turkey has remained closed since the US occupation because of sabotage bombings and war damage.
The main job of overseeing the repair work of Iraq's oil infrastructure was discreetly awarded to Halliburton , a company formerly headed by United States Vice President Dick Cheney, just after the invasion of Iraq was completed. The company is the favorite to win the two contracts for reconstruction of the oil industry, one for the oil industry in northern Iraq and the other for the south. A total of 220 projects are planned which must be completed for Iraq's oil production to reach prewar levels. The projects are divided into three phases, with a total estimated cost of $1.14 billion.
Working in Iraq has helped bolster Halliburton 's finances. The company made a profit of $26 million, in contrast to a loss of $498 million over the same time period a year earlier. The company stated that 9 percent, or $324 million, of its second-quarter revenue of $3.6 billion came from its work in Iraq.
2007-03-08 13:59:26 · answer #3 · answered by cantcu 7 · 0⤊ 3⤋
Shell oil , Exxon Mobil, through LLC's with various names, see the new hydrocarbon law passed by Iraqi congress. and Concession under Paul Bremmer admin. big oil buys for set price of 40bucks a barrel then sell it on open market for market value 70 per barrel more or less. then they buy it from themselves one subsidiary to another then refine it ship it and sell it for 3 dollars a gal.
2007-03-08 14:05:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There is a bill before the Iraqi Parliament right now that opens the gate for outside oil companies to "participate" in the oil business.
Read the last one first - most recent update.....
2007-03-08 14:01:24 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Sounds like you are American. Your largest provider of oil is now Canada. Iraq is actually a relatively small provider. Saudi Arabia is your # 2 supplier.
2007-03-08 14:00:00 · answer #6 · answered by waynebudd 6 · 1⤊ 0⤋
Most of the Arab oil is sold to Europe and Asia now.
The USA gets 50% of their oil from Canada the rest from Mexico and Venezuela mainly.
2007-03-08 14:00:25 · answer #7 · answered by Heads up! 5 · 2⤊ 0⤋
Iraqis are making a lot of money. I don't know why everyone is accusing Bush of being there for oil. I don't think there is a reason for us being in Iraq now.
2007-03-08 13:59:03 · answer #8 · answered by Anonymous · 1⤊ 2⤋
Ya Iraqi oil is benefiting me tomorrow on my trip to the dentist!
But the cost sure is burnen a hole in my purse today!!!!!!
2007-03-08 14:00:56 · answer #9 · answered by ☆♥•´`•.¸ ;-) •´`•.¸ ♥☆ 4 · 0⤊ 0⤋
Bush family, Haliburtion, and the oil companies
2007-03-08 14:04:40 · answer #10 · answered by Anonymous · 0⤊ 1⤋