Tuesday, June 24, 2008

Iraq to award oil contracts to foreign firms

BAGHDAD (AFP) — Iraq will award contracts to 41 foreign oil firms in a bid to boost production that could give multinationals a potentially lucrative foothold in huge but underdeveloped oil fields, an official said on Sunday.

"We chose 35 companies of international standard, according to their finances, environment and experience, and we granted them permission to extract oil," oil ministry spokesman Asim Jihad told AFP.

Six other state-owned oil firms from Algeria, Angola, Pakistan, Thailand, Turkey and Vietnam will also be awarded extraction deals, Jihad said.

As you might imagine I have a huge problem with this story. Listen to my take on our podcast page it's Hour #1 click HERE.


At 10:51 PM, Anonymous Anonymous said...

Should have bombed them back to the stone age, or better yet nuked Iraq and Iran in the first place. But, we continue to have our troops killed almost daily, and continue to spend US tax payer dollars to rebuild Iraq, for what? Democracy, that will never happen? For oil...

At 11:49 AM, Anonymous Anonymous said...

A great way to punish the US for coming in and destroying their country along with its booming oil business. Now we can foot the trillion dollar bill with nothing to show and we can do nothing about it. Well, we can threaten to leave, but that is what they want. Iraq 1 , the US 0.


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