Large oil company has eyes on Iraq.
By on Aug 23rd, 2007 at 1:01 pm
Large oil company has eyes on Iraq.
DNO, a small Norwegian oil company that controls oil assets in Iraq’s Kurdistan region, announced that a large western oil company has offered $700 million for control over the oil. “DNO refused to name the company, but industry executives speculated that Royal Dutch Shell was a possible bidder. Shell on Wednesday refused to comment. DNO said it had received an ‘unsolicited expression of interest from a reputable financial adviser on behalf of a large international oil company’, but had rejected the offer.”
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Now we are getting to the crux of the matter regarding Iraq. Here, out in the open, is the reason for the quagmire. Black gold…oil.
August 23rd, 2007 at 1:04 pmTexas Tea-bagging!
August 23rd, 2007 at 1:09 pmI’m sure the Iraqis will welcome Royal Dutch Shell just like the Nigerians welcome them in the Niger Delta.
August 23rd, 2007 at 1:17 pmRoyal Dutch Shell will be met with flowers and candy.
August 23rd, 2007 at 1:18 pmThey rejected the offer, are we now goinging to declare war with Norway?
August 23rd, 2007 at 1:19 pm(O)peration (I)raqi (L)iberation….
’nuff said
August 23rd, 2007 at 1:20 pmThose oil companies must be really concerned about the sad state of life of Iraqis. I bet that want to use the oil in order to raise the living conditions of those poor Iraqis. Just like toasterhead said, just look at Nigerians scrubbing the garbage outside the Oil facilities looking for something to eat or to sell.
August 23rd, 2007 at 1:31 pmBuy all of your gas from CITGO stations. Venezuelan oil was nationalized and the people of Venezuela will benefit, instead of the fat cats at Shell, Chevron, BP Amoco etc.
August 23rd, 2007 at 1:33 pmThis proves my point.
The U.S. troops are accomplices, while the white, male Republicans are looking to cash in. Their plan is coming into full fruition.
Thank you, Thinkprogress, for being pro-Americans and reporting this. Any poster who doesn’t see the light, deport yourself.
August 23rd, 2007 at 1:34 pmI wonder if Shell was a participant in the Cheney Energy Policy meetings at the WH a few years ago?
And I wonder if Shell does any business with Halliburton?
And I wonder if there is any ongoing communication with the WH by Shell regarding the Iraq quagmire?
And I wonder why I am not surprised at the answer to all of the above questions?
August 23rd, 2007 at 1:36 pmNothing too new here. We’ve been trying to bag Iraq’s oil since forever–planning went on before the invasion even. Check out these oldies but goodies:
http://www.solidarityeconomy.net/2007/01/18/claiming-the-prize-war-escalation-aimed-at-securing-iraqi-oil/
and
http://www.alternet.org/waroniraq/43045/
August 23rd, 2007 at 1:38 pmThat’s not too bad a return on investment – $700 million for $5 trillion worth of assets. I can perhaps understand DNO’s reluctance to go forward with the deal.
August 23rd, 2007 at 1:42 pmStatoil may be seeking a merger with Hydro (another operator in Norway) but the truth remains that Norway has done very well for herself with an oil prospecting company primarily owned by the Norwegian government. That is indisputable. That’s at least ONE country that isn’t an economic disaster with majority government ownership.
What I found grating is the notion that private companies deserve a crack at Iraqi oil. They don’t.
August 23rd, 2007 at 1:51 pmThe oil and gas industry in Norway is state-owned and I think they’ve done pretty well for themselves (world’s 3rd largest oil and gas producer).
The Norwegian government are also trailblazers in using economic incentives to drive environmentally friendly extraction of fossil fuels.
And you say “populist dogma†has deceived people into believing that “state-managed economies are betterâ€.
Wake up and smell the coffee. Sometimes state-managed economies are better than average, sometimes they are worse. Economics has never been an exact science
August 23rd, 2007 at 1:52 pm“The Norwegian government has routinely limited foreign involvement in the oil industry, Norway’s economic backbone. That means keeping tight control over drilling concessions and holding on to 100% of national oil giant Statoil.†http://www.businessweek.com/1999/99_24/b3633240.htm
Why didn’t they follow your suggestion & hand over a slice to foreigners because they have the know-how. Was it because they’re not stupid? They don’t seemed to have suffered by taking an extra 20%.
In 2003 the combined profit for the 10 largest oil multinationals was a massive $76bn. Assuming conservatively with a much higher oil price & with Iraq’s senior status they should expect £20bn a year. Let’s see how much they make, how much the US steal & how much the Iraqi government steal.
How is it that what’s not good for the US, UK, Russia, Libya, Norway is suddenly good for Iraq. We’re taking your oil – It’s for your own good. The Iraqis heard that lie before – why should they believe it now – from the same liars & thieves?
August 23rd, 2007 at 1:53 pmJust like toasterhead said, just look at Nigerians scrubbing the garbage outside the Oil facilities looking for something to eat or to sell.
Comment by Juan C — August 23, 2007 @ 1:31 pm
But I thought they were swimming in money over there! Every other day someone in Nigeria dies leaving millions of dollars in a bank account. At least that’s what all the emails tell me.
August 23rd, 2007 at 2:09 pmAt least that’s what all the emails tell me.
Comment by Luis M
ROFL!!!
August 23rd, 2007 at 2:25 pmThis is what drives our occupation of Iraq. bush-cheney and big oil want to be in DNO’s position, with the legal rights to Iraqi oil in their pockets.
August 23rd, 2007 at 2:30 pmWhen the Iraqi goverment tell the US to leave, the issue will be solved. And not until then.
If you bother to do a little historical research, you will find out that the Brits, the French, the Dutch and the Americans all happily divided up Iraq’s oil reserves after WW I. Seems that the Brits had to bomb the Iraqis and the Kurds (poison gas bombs from airplanes: the first WMDs used in Iraq!) and murder thousands of them to get control of their natural resources. Of course, some willing local whore was appointed “King” by the Brits, and the western powers sucked out the Iraqi oil for decades for practically nothing. And you wonder how the Western powers became so wealthy? Simple: imperial aggression and occupation and theft of natural resources from third world countries. Our USA has been an imperial extra-territorial power since defeating the Spanish in 1898. We took Cuba, Puerto Rico and the Philippine Islands for our troubles. Hawai’i also just sort of fell into our lap around then, too.
August 23rd, 2007 at 5:17 pmAsk Chavez about oil money. He will be president for life once he changes to rules in Venezuela. They love little dicktators.
Libs heart Chavez.
August 23rd, 2007 at 5:20 pm“Large oil company has eyes on Iraq“, and so do the likes of Bush, Cheney, Rumsfeld, Rice. Powell, Robertson, Rove etc. (you know who they are). They’re looking to buy reserves and production of OIL at about $00.01 usd or less. Yes, that’s 1 cent or less.
August 23rd, 2007 at 6:05 pm