Sunday, 19 June 2011
From the New York Times:
In Rebuilding Iraq’s Oil Industry,
NY Times reports (June 16th): When Iraq auctioned rights to rebuild and expand its oil industry two years ago, the Russian company Lukoil won a hefty portion — a field holding about 10 percent of
The auction’s outcome helped defuse criticism in the Arab world that the
United States had invaded for its oil. “No one, even the Iraq , can steal the oil,” the Iraqi government spokesman, Ali al-Dabbagh, said at the time. United States
But American companies can, apparently, drill for the oil.
In fact, American drilling companies stand to make tens of billions of dollars from the new petroleum activity in
long before any of the oil producers start seeing any returns on their investments. Iraq
Lukoil and many of the other international oil companies that won fields in the auction are now subcontracting mostly with the four largely American oil services companies that are global leaders in their field: Halliburton, Baker Hughes, Weatherford International and Schlumberger.