Comments on: Are Pennsylvania and Iraq going in opposite directions? http://h156100wp.setupmyblog.com/?p=88 Sun, 21 Mar 2010 09:31:13 +0000 http://wordpress.org/?v=2.6.1 By: Bob Guzzardi http://h156100wp.setupmyblog.com/?p=88#comment-233 Bob Guzzardi Sun, 15 Jun 2008 05:46:16 +0000 http://www.conservativebog.org/?p=88#comment-233 Good news Iraq to produce more oil http://nextbigfuture.com/2008/06/iraq-oil-update.html Following up on Iraq Oil status Oil production and output holding steady at higher levels that started in May. Iraq will produce up to 2.9 million bpd by the end of 2008, Hussein al-Shahristani Iraqi Oil Minister 2.9 million bpd would be an increase of about 400,000 bpd from levels at the end of May, 2008 2.53 million bpd. Starved of access to oil and gas prospects by governments who increasingly favour development by their state oil companies, Western oil companies are eager to invest in Iraq, home to the world's third biggest oil reserves. However, the security situation and an uncertain legal framework have deterred the majors from making significant investment. Major oil companies have all turned in their proposals for oil service deals and some will be signed this month. Shahristani had warned that Baghdad might drop the oil service contracts, worth about $500 million a piece, if the majors failed to sign deals by June. Five of the deals under discussion are with Royal Dutch Shell (nyse: RDSA), Shell in partnership with BHP Billiton (nyse: BBL), BP (nyse: BP), Exxon Mobil (nyse: XOM) and Chevron (nyse: CVX) in partnership with Total . Iraq is also in talks with a consortium of Anadarko (APC.N), Vitol and Dome for a sixth contract on the Luhais field. Good news Iraq to produce more oil

http://nextbigfuture.com/2008/06/iraq-oil-update.html

Following up on Iraq Oil status Oil production and output holding steady at higher levels that started in May. Iraq will produce up to 2.9 million bpd by the end of 2008, Hussein al-Shahristani Iraqi Oil Minister 2.9 million bpd would be an increase of about 400,000 bpd from levels at the end of May, 2008 2.53 million bpd.

Starved of access to oil and gas prospects by governments who increasingly favour development by their state oil companies, Western oil companies are eager to invest in Iraq, home to the world’s third biggest oil reserves. However, the security situation and an uncertain legal framework have deterred the majors from making significant investment.

Major oil companies have all turned in their proposals for oil service deals and some will be signed this month. Shahristani had warned that Baghdad might drop the oil service contracts, worth about $500 million a piece, if the majors failed to sign deals by June. Five of the deals under discussion are with Royal Dutch Shell (nyse: RDSA), Shell in partnership with BHP Billiton (nyse: BBL), BP (nyse: BP), Exxon Mobil (nyse: XOM) and Chevron (nyse: CVX) in partnership with Total . Iraq is also in talks with a consortium of Anadarko (APC.N), Vitol and Dome for a sixth contract on the Luhais field.

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