On Tue, 01 Jul 2008 23:21:59 +0000, SighFi wrote:
doh... wrong group again... sorry...
> High price of oil... why...
>
> "We did not finalise any agreement with them because they refused to
> offer consultancy based on fees, as they wanted a share of the oil," he
> said."
>
> Iraq fails to sign contracts with global oil majors
>
> http://news.yahoo.com/s/afp/20080630/wl_afp/iraqoil_080630132348
>
> Mon Jun 30, 9:23 AM ET
>
> BAGHDAD (AFP) - Iraq said on Monday it has failed to sign technical
> sup****t agreements with global oil majors which were aimed at helping
> boost the war-torn country's oil production.
>
> Iraq is negotiating with Shell, BP, ExxonMobil, Chevron and Total, and a
> consortium of other smaller oil companies, Oil Minister Hussein al-
> Shahristani said at press briefing.
>
> "We did not finalise any agreement with them because they refused to
> offer consultancy based on fees, as they wanted a share of the oil," he
> said.
>
> "The TSAs (technical sup****t agreements) are only simple consultancy
> contracts to help us raise the production during the interim period"
> before the ministry enters into long-term contracts to develop the oil
> and gas fields.
>
> Last week, oil ministry spokesman Asim Jihad told AFP that it would sign
> the sup****t contracts on Monday and award longer term deals to 41 other
> energy companies.
>
> Iraq wants to ramp up output by 500,000 barrels per day from the current
> average production of 2.5 million bpd, about equal to the amount being
> pumped before the US-led invasion in March 2003.
>
> Ex****ts of 2.11 million bpd currently form the bulk of the war-torn
> nation's revenues, and the oil ministry is keen to raise capacity over
> the next five years to 4.5 million bpd.
>
> Iraq's crude reserves are estimated at about 115 billion barrels, but it
> is sorely lacking in infrastructure and the latest technology to which
> it was denied access under years of international sanctions after the
> 1991 Gulf War.
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