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Russia's Lukoil Wins Huge Iraqi Oilfield
The Business Insider ^ | 12/12/09 | Joe Weisenthal

Posted on 12/12/2009 6:51:06 PM PST by FromLori

So much for America getting all the oil it spent billions of dollars, and thousands of lives to "liberate."

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By SINAN SALAHEDDIN (AP) – 10 hours ago

BAGHDAD — A consortium led by Russia's private oil giant won the biggest prize of Iraq's second oil auction this year, nabbing a field initially promised them a decade ago by Saddam Hussein while other companies Saturday showed little interest in offerings outside the secure southern part of the country.

Lukoil and Norway's Statoil ASA won rights to develop the 12.88 billion barrel West Qurna Phase 2 field in the Basra region, beating out three other consortiums led by France's Total SA, Malaysia's state-run Petronas and British giant BP PLC.

The field was the crown jewel of Iraq's second international oil auction, which has placed some of the country's most coveted sites up for grabs compared with the riskier fields that drew little interest in the first auction in June. In all, 15 fields were offered over two days, and of the seven offered Saturday, four were awarded.

"It is a big victory for Iraq," Oil Minister Hussain al-Shahristani told reporters after the final field was auctioned. "It is a big achievement for Iraq to win such contracts at the current prices."

Al-Shahristani said that the contracts awarded over the two days, coupled with those awarded over the past few months — including the June auction — would help the country boost production to 12 million barrels per day in six years. Iraq currently struggles to produce 2.5 million barrels a day.

The aggressive interest in West Qurna 2 — the biggest of the 15 offered — reflected not only its ample reserve base and cheap development costs, but also its location in the relatively Shiite heartland in Iraq's south.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Foreign Affairs; News/Current Events; Russia
KEYWORDS: americafirst; drillheredrillnow; drillourownoil; energy; iraq; iraqieconomy; iraqioil; oil; postwariraq; russia

1 posted on 12/12/2009 6:51:06 PM PST by FromLori
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To: FromLori

Iraq: Persian for “Ingrateful Douchebags”.


2 posted on 12/12/2009 6:52:44 PM PST by ffusco (The President will return this country to what it once was...An arctic wasteland covered in ice.)
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To: FromLori

They have been winning those left and right. Why shouldn’t they. The Iraqi Govt knows that Putin will not stand in the way of business. Why award a contract in a political uncertain enviroment.

Also, I am sure the Russians don’t have the FCPA of 1974.


3 posted on 12/12/2009 6:54:36 PM PST by Perdogg (Sarah Palin-Jim DeMint 2012 - Liz Cheney for Sec of State - Duncan Hunter SecDef)
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To: FromLori

We need to be developing our own oil and building new refineries. It means American Jobs and more economic security. Why would the Democrats and Union leaders block it?????


4 posted on 12/12/2009 7:04:06 PM PST by FreeAtlanta (There is no "O" in Transparency.)
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To: FromLori
So much for America getting all the oil it spent billions of dollars, and thousands of lives to "liberate."

That's okay, we get to keep all the WMDs we found. Plus, we're safer now that Saddam can't launch those missiles that would hit us (or was it England?) within 45 minutes.

5 posted on 12/12/2009 7:04:42 PM PST by kittykat77
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To: Perdogg

I like your administration lineup.

And you are spot on. The point here is the current douchebags running this country want our energy costs to SKYROCKET.

They WANT us to go broke heating our homes and driving our cars.

I swear, with the direction they are taking us in, I sometimes think they are going to either enslave us or drive us to rebellion. There will be no other path.


6 posted on 12/12/2009 7:04:55 PM PST by rlmorel (We are traveling "The Road to Serfdom".)
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To: FromLori

Oh, i thought we invaded Iraq so we could steal all the oil?


7 posted on 12/12/2009 7:05:08 PM PST by GSP.FAN (These are the times that try men's souls.)
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To: kittykat77

What is your point?


8 posted on 12/12/2009 7:05:35 PM PST by rlmorel (We are traveling "The Road to Serfdom".)
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To: rlmorel

Thank you! It is up to us to make it happen!!

I agree. 0bama is taking us to serfdom.


9 posted on 12/12/2009 7:07:26 PM PST by Perdogg (Sarah Palin-Jim DeMint 2012 - Liz Cheney for Sec of State - Duncan Hunter SecDef)
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To: FromLori

As I recall, didn’t the Democrat congress make it illegal for the Iraqis to grant oil contracts to American companies. Something about not wanting Americans to gain from the war, or some such.


10 posted on 12/12/2009 7:08:39 PM PST by marktwain
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To: ffusco

No, your translation is off slightly. Iraq is Persian for “free market” (oil bids, baby, oil bids!) and “flat tax,” which was instituted while L. Paul Bremer was in charge. Just because this isn’t helping the US doesn’t mean the theories are wrong. In fact, just the opposite. It proves the theories are right!


11 posted on 12/12/2009 7:08:40 PM PST by kittykat77
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To: FromLori

Didn’t the Russians already buy this oil in the days of Saddam? (UN ‘oil’ for rotten ‘food’)


12 posted on 12/12/2009 7:10:26 PM PST by Just mythoughts
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To: FromLori
I thought Dick Cheney and Halliburton had that oil all sewed up.
13 posted on 12/12/2009 7:12:09 PM PST by fish hawk (It's sad that science gathers knowledge faster than society gathers wisdom. Isaac Asimov)
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To: rlmorel
My point is self-evident: The US said it was not invading and regime-changing Iraq because we wanted its oil. We said we wanted to dissarm Saddam and get Saddam out of power because he was a danger. And that's just what we did.

Are you saying we had other motives going into Iraq? Because if you are, that means you're in league with those no-blood-for-oil traitors

14 posted on 12/12/2009 7:13:39 PM PST by kittykat77
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To: FromLori

We spill blood, Russians get the oil.
It’s a brilliant government we have, isn’t it?


15 posted on 12/12/2009 7:16:26 PM PST by AIM-54
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To: FreeAtlanta

Kerry and the Dems blocked it last time when they wanted to give it to Mobile. Who would ever want to do business w/this regime?

Pray for America and Our Troops


16 posted on 12/12/2009 7:20:27 PM PST by bray (Palin can see the White House from her Porch)
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To: kittykat77

Your point was not self evident.

It would have been if you had put a “/S” tag at the end.

Remember that not everyone knows who you are, and when you are online there is no body language or voice inflection to communicate, and your words stand on their own.


17 posted on 12/12/2009 7:21:32 PM PST by rlmorel (We are traveling "The Road to Serfdom".)
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To: FreeAtlanta

Because they are ideological scumbags. They do not have the best interest of the United States in mind. They all need to get voted out next time they are up for election.


18 posted on 12/12/2009 7:26:23 PM PST by DennisR (Look around - God gives countless, indisputable, and unambiguous clues that He does, indeed, exist.)
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To: kittykat77

No, Ingratefull Douchbags is correct. We spent how much blood and treasure and they give their business to other nations?

They didn’t deserve freedom. They are garbage.


19 posted on 12/12/2009 7:26:40 PM PST by ffusco (The President will return this country to what it once was...An arctic wasteland covered in ice.)
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To: FromLori

We don’t need no stinkin’ oil, we got DumBO tilting at windmills.


20 posted on 12/12/2009 7:32:04 PM PST by depressed in 06 (Tea parties today, Lexington tomorrow.)
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To: rlmorel; kittykat77

> What is your point?

The point was masterful satire, beautifully executed. Bravo!


21 posted on 12/12/2009 7:42:00 PM PST by DieHard the Hunter (Is mise an ceann-cinnidh. Cha ghéill mi do dhuine. Fàg am bealach.)
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To: FromLori

It sickens me anymore to see how this country sends her best to bleed and die on foreign soil for other peoples benefit, while the human dreck remains here to breed another inferior generation (My own personal theory about why we’re starting to resemble the Europeans). Funny how knives in the back are usually put there by those one loves, trusts or wants to believe in. God, how stories like this embitter me!


22 posted on 12/12/2009 7:43:42 PM PST by VR-21
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To: FromLori

Not surprising. I believe the Chinese also made a deal with Iraq earlier.

The Democrats and the anti-war nuts accused Bush of being a Texas oil man, screamed about Cheney, and whined that there should be no blood for oil.

Well, oil was in fact one of the original purposes of the war, as I understood it back then. Secure the Iraqi oil fields before going into Saudi Arabia, the real instigators and paymasters of Wahabi terrorism. But then the whole thing got sidetracked and bogged down.

Before 9/11 we were being repeatedly hit by Muslim terrorists (9/11 was only the last and largest, but part of a long string of outrages), and we couldn’t just attack the Saudis without risk of losing the world’s oil supply, most of which was controlled by Muslims, bringing the industrial nations to a screaching halt.

Then we got all that leftist whining, that Vietnam quagmire stuff, the Halliburton accusations, and the rest of it, and either Bush chickened out on the rest of the plan, or he found it politically impossible to go ahead with it. First Afghanistan and Iraq, then Syria, the Saudis, and finally Iran.

So basically we have fought the Iraq war for nothing and the Russians and Chinese, who aided our enemies, have come up the winners. I’m not sure that Bush could have done any differently, since even as much as he did do seems to have sunk his presidency, what with all the undermining from the left.

Well, that’s what the Democrats wanted, I suppose. They’d much rather lose wars than win them.


23 posted on 12/12/2009 7:48:09 PM PST by Cicero (Marcus Tullius)
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To: DieHard the Hunter

I appreciate satire, but satire is nearly impossible nowadays, in my opinion.

One can make the argument that reality is satire now, but I have always felt that satire must be in some way distinguishable from reality, otherwise, what is the point other than to simply pump up the blood pressure of others?

Of course, I recognize there are many who get their jollies from doing just that. It isn’t something I enjoy personally, although I do enjoy watching the Left become unhinged when dirty irritation of reality intrudes on their ideas of utopia.

THAT I confess to...:)


24 posted on 12/12/2009 7:53:02 PM PST by rlmorel (We are traveling "The Road to Serfdom".)
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To: DieHard the Hunter; kittykat77

And just to be clear, I am not calling kittykat77 a liberal...if he/she says it was satire, I accept that completely. I was commenting on the regrettable pleasure I sometimes feel upon seeing my adversaries (Liberals) in emotional discomfort.


25 posted on 12/12/2009 7:59:07 PM PST by rlmorel (We are traveling "The Road to Serfdom".)
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To: DieHard the Hunter

And I also have to admit being bitten by satire on FreeRepublic more often than anywhere else, so I cannot be too upset about that. There is a particular Freeper (whose handle escapes med) to whom I fell victim multiple times.

He had a particular penchant for that specific type of satire which is indistinguishable from reality.

I learned (after a while) that nearly every thread posted by this person was satire. But it took me a few tries...


26 posted on 12/12/2009 8:04:29 PM PST by rlmorel (We are traveling "The Road to Serfdom".)
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To: rlmorel

> I appreciate satire, but satire is nearly impossible nowadays, in my opinion.

Sadly, that’s a nearly unassailable defense. Once upon a time not long ago the world was a simpler place...


27 posted on 12/12/2009 8:06:36 PM PST by DieHard the Hunter (Is mise an ceann-cinnidh. Cha ghéill mi do dhuine. Fàg am bealach.)
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To: DieHard the Hunter

Yeah.

That’s the truth.

Sigh. I suspect people who have lived through crisis for generations before us have all thought the same thoughts: That the world WAS simpler in earlier times, and why do WE have to go through this?

And that makes me want to quote Sarah Palin’s husband when (after telling him their son was going to have Down’s Syndrome) she asked him “Why us?” and he replied...”Why not us?”


28 posted on 12/12/2009 8:25:38 PM PST by rlmorel (We are traveling "The Road to Serfdom".)
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To: VR-21

Well said.


29 posted on 12/13/2009 7:54:40 AM PST by FromLori (FromLori)
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