So the plan is to stay until we control Iraq oilfields? Over 4,000 US troops die, while the US waits?
Auction
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for leftovers?
Will the foreign companies – especially China — continue stroking Iraq while the US is left behind? Didn’t we sacrifice most?
October 12, 2009
China National Petroleum Corp (CNPC), China’s largest oil and gas producer, and Britain’s oil giant BP signed an initial agreement on Thursday with Iraq’s Oil Ministry to develop Rumaila, Iraq’s largest oilfield.
“The signed contract will be referred to the cabinet for approval,” said Iraq’s Oil Ministry spokesman Asim Jihad. “The ministry will set an official date for signing the contract after the cabinet’s approval.”
He said the deal, which requires an investment of more than $15 billion, was signed by the ministry, represented by the State-run South Oil Company, and CNPC and BP.
A BP spokesman confirmed that they had signed the initial contract and were waiting approval from the Iraqi government.
He said it was an important milestone and BP hoped to be able to sign the final agreement before the end of this year.
CNPC said it was not ready to comment.
BP and CNPC won the Rumaila deal after they cut their proposed remuneration fee to $2 per barrel. Iraq offered eight contracts in a June auction.
As Iraq’s largest producing oilfield, Rumaila accounted for almost half of the country’s total output of 2.4 million barrels per day (BPD), with a current capacity of 1.1 million BPD. The field’s reserves are estimated to be 17 billion barrels.
BP and CNPC aim to boost its output to 2.85 million barrels per day over the 20-year contract.
Answers see additional comments below.
Bush started that war just for oil. He didn’t care about how many lives it cost so long as he and his buddies made money.
No, the plan is to eventually have Iraq run Iraq.
BUSH LIED
…
PEOPLE DIED!
Who said that was the plan? The plan was to remove Saddam and then set up a democratic government…
I’m already paying .65 per gallon more than the rest of the country! Spread the wealth Communist not socialist
Increase the imports from Mexico by 8 % and from Canada by 3% then tell OPEC to drink their oil and let the rest of the world fight it out in the Middle East.
By increasing the imports from Mexico, which has the second largest reserve in the world, that would boost their economy and reduce the number of immigrants. This would also boost the Economy of Canada.
Both would love to have the increase and we would have more control on the prices.
who cares your questions are worthless