«
»

Iraq will win big in Oil Game

Oil Minister Hussain Shahristani says that the coming foreign investments into Iraq will benefit Iraq 100 times more than the companies investing in the business.

Why is this bad? I don’t see how it can be – the investors are still making money, and Iraq is protecting it’s own best interests.

Shahristani:

“The model we chose is the one that best protects the interests of Iraq. The companies will be given a fee because these are fields that are already discovered and producing. Iraq is free to pay them in cash or pay them in oil, priced on the day of delivery.”

Iraq will be announcing contract winners for 20 oil and gas fields this coming June 29 and 30.

Share

Related posts:

  1. Key dates for 2009 Oil in Iraq
  2. Iraq to produce 6 million barrels per day
  3. CBI cancels T-Bill auctions, Allawi to form Iraqi FCC, Iraq to quadruple oil production
  4. Oil and Gas Commission calls on Shahristani to resign
  5. Oil Minister of Iraq asked to Step Down

This entry was posted on Thursday, June 25th, 2009 at 9:01 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Iraq will win big in Oil Game”

  1. DustySoldier DustySoldier says:
    June 25, 2009 at 1:36 pm

    I believe Iraq is doing this exactly as they should. With the largest reserves in the world, they SHOULD keep contol and retain profits.

  2. How I Make $300 a Day Posting Links Online How I Make $300 a Day Posting Links Online says:
    June 30, 2009 at 2:07 pm

    Cool post, just subscribed.