Iraq looks to spectacular oil boom to revive its political fortunes
The Independent / Patrick Cockburn
30-Jun-2010 (one comment)
"The sums of money involved are also huge. This week Shell signed a $12.5bn natural gas production venture with Iraq. The companies developing Iraq's oil, for which they are paid a fee per barrel and do not get a share in production, will spend $100bn over 10 years according to Iraqi oil minister Hussain Shahristani. He adds that Iraq itself should benefit by $200bn." >>>
AMIR1973

Iraq the winner, IRI the loser

by AMIR1973 on Wed Jun 30, 2010 09:22 PM PDT

Iraq has the potential to benefit enormously from its latest oil deals. Unlike what the Islamists and "leftish" Fellow Travelers are saying, these deals are more favorable to Iraq than those of other countries. The oil companies, which include both Western and significant non-Western involvement (e.g. Malaysia and China), will receive a fee rather than the "standard" share in production that they receive in many other countries.  


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