Deal over Iraqi Oil between China, Russia, an the U.S?

Discussion in 'Energy' started by dan22, Jan 8, 2010.

  1. dan22

    dan22 Rookie

    Jan 1, 2010
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    Maybe a tipping point has been achieved by Iran's gorwing opposition movement. After the weekend's protest marches we do know that the movement is resilient and expanding very fast. Combine that with the The deal over Iraqi oil and we have a perfect recipe for a revolution.
    The rise in Iraqi production will benfit some and cause troubles to others. Chinese and Russian companies will drill the oil, the west will enjoy low oil prices for a few more years, the U.S will be able to pull out quietly from Iraq and on the hand Iran will suffer badly from a fall in oil prices. And Saudia Arabia? well the Iranian powers will be weakened(hopefully) so the regime will stay and they still have so much and not such a large population to feed like Iran has that they wouldn't really suffer from a fall in prices.
    Iraq's latest oil field auctions, mostly involving partnerships with Russian and Chinese companies due to a dearth of U.S. companies even tendering, could bring total oil production to 12 million barrels per day.
    Believe it or not, Iraq is rapidly emerging as a rival to Saudi Arabia.
    European, Russian and Chinese oil companies including Shell, Lukoil, CNPC and BP are having a field day winning auctions to develop big Iraqi oil fields. Shell and Petronas have obtained the right to develop Majnoon with 7 billion barrels of reserves, Lukoil and Statoil the West Qurna 2 field which in total holds 9.75 billion barrels, and Total and Petronas the Halfaya field with 0.5 billion barrels. The only US company that secured a deal is ExxonMobil over the development of West Qurna .
    Quite a disappointment given the amount of money the US has invested in Iraq through the Iraqi war?
    Maybe not!!
    I have heard lately from different sources rumors that their was a deal made between China, Russia, and the United States. China and Russia have been selling weapons to different terrorist groups in Iraq AND NOW THEY HAVE AN INTEREST THAT PLACE WILL BE SAFE.
    Israel's Financial Expert: The deal over Iraqi oil

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