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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Iraq oil

Iraq oil stories: 15 news summaries

American Adviser to Kurds Outed as Oil Shareholder

Galbraith's policy push won him $100M

Nov 12, 09 9:15 AM CST
(Newser) - An influential American advocate for Iraqi Kurds, who helped successfully secure Kurdish control over new oil finds in northern Iraq in the country's constitution, stands to reap more than $100 million from the policy he shaped. Peter Galbraith, it turns out, received rights to an enormous oil stake in Kurdistan... More »

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Iraq • Iraq oil • Kurdistan • Kurds • Norway • Peter Galbraith • oil companies • conflict of interest

In Televised Auction of Oil Contracts, Iraq Plays Hardball

Oil ministry plays hardball on prices

Jun 30, 09 7:34 AM CDT
(Newser) - The Iraqi oil industry has been nationalized since 1972, but today the country is awarding the first contracts in decades to private petroleum companies—live on television. So far a joint bid by British Petroleum and a Chinese firm has won the first contract, for a 17 billion-barrel field in... More »

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Iraq • oil • Iraq oil • ExxonMobil • auction • oil companies • British Petroleum

 Big Oil Drooling 
 Over Iraq Contracts 

Firms booted out in '72 eye nation's vast untapped reserves

Jun 24, 09 1:48 AM CDT
(Newser) - Iraq is preparing to welcome back the foreign oil companies it ejected over 30 years ago, and the firms are giddy with anticipation, the Wall Street Journal reports. Contracts to revive production at neglected oil fields go up for auction next week, and competition is expected to be fierce. Oil... More »

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Iraq • oil • Iraq oil • Hussain al Shahristani • oil companies

Marines Try to Wean Iraq From US Pocketbook

Saddam-era budget network can't provide to expanded security forces

Oct 9, 08 1:11 PM CDT
(Newser) - As Iraq becomes safer, the Marines have focused on the next challenge: weaning the country’s security forces off US financial and logistical support, USA Today reports. To spur the independence of the nascent Iraqi police, the Marines now refuse to refuel their vehicles, and it's gotten the Iraqis' attention.... More »

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Iraq • Saddam Hussein • Iraq oil • budget • US troops • Iraq police • Marine • Iraq war

 Iraq Dumps 
 Western Oil Deals 

Plans scrubbed as talks drag on too long

Sep 11, 08 3:04 AM CDT
(Newser) - Iraq has scrubbed plans to award six coveted no-bid contracts to Western oil companies, the New York Times reports. Negotiations with the oil giants—including Exxon Mobil, Chevron, Shell, BP and others—dragged on for too long, said Iraq's foreign minister. The companies would have been unable to complete work... More »

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Iraq • oil • Iraq oil • Shell • Chevron • Hussain al Shahristani • oil companies • Exxon Mobil • China National Petroleum Corp.

China Makes $3B Deal to Develop Iraqi Oil

First Saddam-era oil deal to be revived
since invasion

Aug 28, 08 7:45 AM CDT
(AP) - China and Iraq have dusted off an oil deal that was in the works before the 2003 US invasion of Iraq, giving China the rights to develop the Ahdab field, reports the AP. The agreement—which has grown from an estimated $1.2 billion to $3 billion—was originally struck... More »

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Iraq • Iraq oil • United States • oil production • China National Petroleum Corp.

Opinion

Iraq Needs Its No-Bid
Oil Contracts

Deals aren't exploitative, argues energy adviser

Jul 26, 08 3:15 PM CDT
(Newser) - US lawmakers have been raging against no-bid deals struck by foreign oil companies in Iraq—but impeding them would be pure folly, energy consultant Raad Alkadiri argues in the Washington Post. Most of these companies have already advised Iraq on its oil fields for free; Baghdad only sought to... More »

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Iraq • energy • Congress • Iraq oil • oil companies • oil industry

Would-Be Oil Barons Venture Into Kurdistan

Northern Iraqi region awash in untapped black gold—and risk

Jul 9, 08 3:50 PM CDT
(Newser) - Kurdistan, Iraq’s mostly autonomous northern region, is brimming with oil, but the big oil companies won’t touch it. The Kurdish government gladly hands out exploration contracts, but taking one invites the wrath of the central government in Baghdad. That’s left the forbidden fruit to “wildcatters,”... More »

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Iraq • Iraq oil • Kurdistan • Northern Iraq • oil exploration

White House in Loop on Troubling Iraq Oil Deal

Bush crony's Kurdistan deal undermined Baghdad government

Jul 3, 08 3:04 AM CDT
(Newser) - The State Department was fully aware that a Texas firm linked to President Bush planned to sign a controversial Kurdistan oil deal that undermined the Iraqi government, reports the New York Times. Documents released by a congressional committee yesterday reveal that Hunt Oil—run by a close associate of the... More »

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Iraq • Iraq oil • State Department • Kurdistan • Hunt Oil • House Committee on Oversight and Government Reform

Big Oil Deals Absent as Iraq Opens for Bids

No announcement of criticized contracts for Western companies

Jun 30, 08 11:13 AM CDT
(Newser) - The Iraqi government opened six oil fields to bidding today, without mention of expected no-bid contracts with big Western oil companies, the AP notes; it had been reported that several big companies were close to signing short-term deals with Iraq's government. "There is no preferential treatment for anyone, no... More »

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Iraq • Iraq oil • Chevron • BP • Royal Dutch Shell • Exxon Mobil • Total SA

 Oil Giants to Return to Iraq

Companies booted by Saddam win contracts to service Iraqi oil fields

Jun 19, 08 4:20 AM CDT
(Newser) - Four big oil companies chucked out of Iraq by Saddam Hussein 36 years ago are ready to return, the New York Times reports. BP, Exxon Mobil, Shell and Total are about to announced winning coveted no-bid contracts to service Iraqi oil fields. The contracts are short-term, but the firms hope... More »

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Iraq • Iraq oil • Shell • Chevron • oil companies • Exxon Mobil

Iraq to Net Record
$70B Oil Windfall

Congress calls for aid cuts after revenue forecast doubles

Apr 30, 08 2:58 AM CDT
(Newser) - US analysts estimate that record-breaking oil prices and a fall in insurgent attacks on pipelines will boost Iraq oil revenue this year to $70 billion—double earlier estimates, the Wall Street Journal reports. The latest figure has sparked a call among US lawmakers to demand that Iraq pay more of... More »

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Iraq • Iraq oil • oil price • oil production • Iraq reconstruction

Turkey's Threats Send Oil
to Record High Near $88

Many fear disruption of Kurdish pipelines

Oct 16, 07 8:32 AM CDT
(Newser) - Crude oil hit yet another record today, trading near $88 a barrel over fears that a looming Turkish attack on Northern Iraq would disrupt pipelines in the world’s third-largest oil producer. Turkey’s PM said he expected parliament to approve an incursion to root out PKK militants in the... More »

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Iraq • Turkey • Iraq oil • Kurdish Militants • OPEC • oil price • crude oil

Oil-for-Food
Tycoon
Pleads Guilty

Octogenarian Wyatt faces 18 to 24 months, will return $11M

Oct 1, 07 5:00 PM CDT
(Newser) - Oil magnate Oscar Wyatt pleaded guilty to conspiracy today, ending his trial on federal charges that he paid Saddam Hussein's government millions to secure oil supply deals in  the UN oil-for-food program scandal. The 83-year-old Wyatt will serve 18 to 24 months in prison and give up $11 million, Reuters... More »

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United Nations • Iraq oil • Oscar Wyatt • Oil for Food program

Big Oil Shut Out
Of Iraq Deals

First new oil contracts go to China, India—even Vietnam and Indonesia

Apr 6, 07 8:24 AM CDT
(Newser) - U.S. oil companies are far from first in line as Iraq doles out its initial oil contracts.   China, India—even Vietnam and Indonesia—have the inside track instead, thanks to contracts and infrastructure dating back to the Saddam regime, and more positive Iraqi sentiment. "They have... More »

MORE ABOUT:
Iraq • China • oil • Indonesia • Vietnam • India • Iraq oil • Exxon • Shell • Chevron • BP • business • United States • ExxonMobil • fuel

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