Iraq to sign oil deals with Western firms in April
BAGHDAD — Iraq has concluded preparations to conclude oil
exploration deals with Western contractors.
Officials said the Iraqi Oil Ministry would sign $2.5 billion in
contracts with BP, Royal Dutch Shell, Exxon Mobil, Chevron and Total in
April 2008.
They said the two-year contracts would mark the first stage of a
government plan to increase crude oil production by 500,000 barrels of oil
per day. Current production is nearly 2.3 million barrels per day.
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"As far as we are concerned, everything is positive and it's a matter of
time for the minister of oil and oil companies to finalize and shake hands,"
Thamir Ghadhban, the energy adviser of Iraqi Prime Minister Nouri Al Maliki,
said.
Executives from the Western energy majors met Iraqi officials in
mid-March to finalize the details of the contracts. The companies were
seeking to develop up to five oil fields in northern and southern Iraq.
To see these two men honored by President Bush with the Presidential Medal of Freedom was shocking.
They both deserved major reprimands and removal from their posts, rather than medals. Their effrontery has no bounds evidenced when each produced a book seeking to absolve themselves of blame. Both have since been hooted off the stage by the reading public.
