Deals With Iraq Are Set to Bring Oil Giants Back

[FRED]

Deals With Iraq Are Set to Bring Oil Giants Back

BAGHDAD — Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power.

Exxon Mobil, Shell, Total and BP — the original partners in the Iraq Petroleum Company — along with Chevron and a number of smaller oil companies, are in talks with Iraq’s Oil Ministry for no-bid contracts to service Iraq’s largest fields, according to ministry officials, oil company officials and an American diplomat.

The deals, expected to be announced on June 30, will lay the foundation for the first commercial work for the major companies in Iraq since the American invasion, and open a new and potentially lucrative country for their operations.

The no-bid contracts are unusual for the industry, and the offers prevailed over others by more than 40 companies, including companies in Russia, China and India. The contracts, which would run for one to two years and are relatively small by industry standards, would nonetheless give the companies an advantage in bidding on future contracts in a country that many experts consider to be the best hope for a large-scale increase in oil production.

AntiSpin: Imagine our surprise.

[GRG55]

Re: Deals With Iraq Are Set to Bring Oil Giants Back

Deals With Iraq Are Set to Bring Oil Giants Back

And thanks to iTuliper BiscayneSunrise for his related April 2008 posting on this topic...:cool:
http://www.itulip.com/forums/showthr...highlight=Iraq

[oddlots]

Re: Deals With Iraq Are Set to Bring Oil Giants Back

It's not called "The Prize" for nothing!

[World Traveler]

Re: Deals With Iraq Are Set to Bring Oil Giants Back

Let's see. Shell is a British-Dutch company, Total is French with Paris headquarters, BP is British Petroleum. I see only one U.S.-headquartered corporation, ExxonMobil.

And ExxonMobil, since 2002, has re-located a huge amount of its Support (Procurement-Payables, Controllers, Employee Relations and Payroll, etc., etc.) and Downstream business functions from U.S. sites to overseas Business Support Centers, set up in 2002-2003 in Brazil, Argentina, Hungary, the Czech Republic, Thailand, Singapore, and Malaysia. Work Transition Projects in all these organizations were set up whereby staff was hired at these overseas sites, brought to the U.S. for training, then the Americans who had been doing those jobs were laid off or forced to retire. (living in Houston, I know many current and former ExxonMobil folks).

Does this sound like a patriotic corporation?

The average American is told to be patriotic and support their government and its policies, yet corporations get a pass. (Halliburton moving hdqrtrs to Middle East is another good example).

The war in Iraq has in no way benfitted the American taxpayers and soldiers who are paying the bills. In fact, for the nation as whole, it's been a big negative - expensive, financed by debt, and weakened international prestige and alliances.

The good news on the horizon is that polls (including latest AP poll) show 70% of Americans are very disatisfied with Country's Direction. This will put pressure on politicians to generate policies that actually benfit the nation as a whole and the majority of its citizens.

[phirang]

Re: Deals With Iraq Are Set to Bring Oil Giants Back

Let's see. Shell is a British-Dutch company, Total is French with Paris headquarters, BP is British Petroleum. I see only one U.S.-headquartered corporation, ExxonMobil.

And ExxonMobil, since 2002, has re-located a huge amount of its Support (Procurement-Payables, Controllers, Employee Relations and Payroll, etc., etc.) and Downstream business functions from U.S. sites to overseas Business Support Centers, set up in 2002-2003 in Brazil, Argentina, Hungary, the Czech Republic, Thailand, Singapore, and Malaysia. Work Transition Projects in all these organizations were set up whereby staff was hired at these overseas sites, brought to the U.S. for training, then the Americans who had been doing those jobs were laid off or forced to retire. (living in Houston, I know many current and former ExxonMobil folks).

Does this sound like a patriotic corporation?

The average American is told to be patriotic and support their government and its policies, yet corporations get a pass. (Halliburton moving hdqrtrs to Middle East is another good example).

The war in Iraq has in no way benfitted the American taxpayers and soldiers who are paying the bills. In fact, for the nation as whole, it's been a big negative - expensive, financed by debt, and weakened international prestige and alliances.

The good news on the horizon is that polls (including latest AP poll) show 70% of Americans are very disatisfied with Country's Direction. This will put pressure on politicians to generate policies that actually benfit the nation as a whole and the majority of its citizens.

LMAO!

As an American, I have full faith in my fellow citizens to destroy themselves and their country. amin.

[metalman]

Re: Deals With Iraq Are Set to Bring Oil Giants Back

LMAO!

As an American, I have full faith in my fellow citizens to destroy themselves and their country. amin.

January 2001, Bush Sought to "Find A Way" to Invade Iraq
by BadKitty