7 Year Tribulation...Iracq and

[TM7]

and China sign huge oil and oil development deal. What it was all about...pending approval. Neocons must be pulling out hair, or banking profits?. ...Thanx...fwiw..TM7
.
China, Iraq reach $3 billion oil service deal
August 28, 2008 - 10:08am

By ELAINE KURTENBACH
AP Business Writer

SHANGHAI, China (AP) - China and Iraq have signed a $3 billion deal revising a prewar agreement for China's biggest oil company to help develop the Ahdab oil field, an official at the Iraq's Oil Ministry said Thursday.

The deal, restoring a project canceled after the 2003 U.S.-led invasion of Iraq, was signed late Wednesday by Chinese officials and Iraqi Oil Minister Hussain al-Shahristani.

"The initial agreement has been signed, and we are waiting to see the approval of both governments," said Sarhad Fatah, a spokesman at the Iraqi Embassy in Beijing.

Fatah would not disclose the value of the deal, but an official at the Oil Ministry in Baghdad confirmed it would be worth $3 billion. He requested anonomity because the agreement hasn't been approved by the cabinet yet.

Major oil companies have been reluctant to commit to deals in Iraq because Baghdad has yet to enact a law to govern the oil industry.

The government of former Iraqi President Saddam Hussein signed a deal in 1997 with China's oil company, government-owned China National Petroleum Corp. It was to take effect once U.N. sanctions on Iraq's oil industry were lifted.

That contract, worth $1.2 billion at the time, gave a subsidiary of the Chinese company concessions to develop the field on a production-sharing basis for 22 years.
A CNPC spokesman, Liu Weijiang, said Thursday that he could not provide any information on the new agreement.

If it is approved, the agreement would be the first Saddam-era oil deal to be honored by the new Iraqi government.

A number of companies say they signed deals with Saddam's regime and demand that those be honored, or the countries involved be given priority on new agreements.

But the Iraqi statement said that some technical services contracts with other big petroleum companies might be postponed.

Iraq's Oil Ministry has consistently denied giving any advantage to companies with which Saddam signed deals, instead insisting that oil and gas fields and exploration blocks will be offered up for bids.

Iraq sits on more than 115 billion barrels of oil, but decades of wars, U.N. sanctions, violence and sabotage have battered its oil industry.

The Ahdab field is located in Shiite-dominated Wasit province, about 100 miles (160 kilometers) southeast of Baghdad. It has been the scene of sporadic attacks since the U.S.-led invasion in 2003.

As security improves, Iraq is trying to bring in foreign companies to help increase crude output from the current 2.5 million barrels a day to 3 million barrels a day by the end of 2008, and 4.5 million barrels a day by the end of 2013.

___



http://www.wtopnews.com/?nid=105&sid=1468200


..........

[ms]

I think that soldier in that video needs to read this .

[-Shaggy-]

But I thought the liberals said we attacked them to steal their oil. You mean they still own the oil and can sell to whoever they want?

[Swampman]

 

[Swampman]

"our blood"??

Whose this "our" white man?

You've sat on your ass and done nothing but bitch about the job we've done.

[canon6]

I usually keep out of these, but +1 to what swampman said.If you have not "been there and done that" it ain't "our blood", it's  their blood.nufsaid      Doug

[billy_56081]

  Yes TM7 what are you talking about our blood? Have you ever served? I have! You armchair Americans make me want to puke. All you ever do is sit around and cry about how everything in America is wrong. What have YOU personally done? I would bet nothing would be a correct answer. When I was 23 years old I was stuck out in a dersert for cry babies like you Anti Amercan whiners. YOUR BLOOD had nothing to do with this country, you sat in your comfortable chair and did nothing but whine.

[-Shaggy-]

But I thought the liberals said we attacked them to steal their oil. You mean they still own the oil and can sell to whoever they want?

.
Doesn't matter what liberals said when it turns out they were wrong , but I suppose the libbers got that from what the Bush Admin had said all along and what most people intuited, which was that Iraqui oil would pay for the whole costs of the operation. So-called conservatives, neocons, and other regular people said yes,,good idea. Now it seems like the Chinese and the Iraqis benefited from the our blood and taxpayer dollars...pretty good, huh? What dumbasses them neocons are for letting the new Iraqi government think they can run their own oil business .

..TM7

Fixed it for you.

[powderman]

BILLY. When tm said, our blood, he wasn't talking about American blood. Lots of his Godless friends have died too.
tm. You have a lot of nerve talking about anybody  attacking you, you do that all the time to several of us. I reckon you being a mod you think it's ok to attack whoever you want and call names. It shouldn't be, but appears to be so. I don't see you as American in any sense of the word. POWDERMAN. 

[ms]

Doesn't matter what liberals said, but I suppose the libbers got that from what the Bush Admin had said all along and what most people intuited, which was that Iraqi oil would pay for the whole costs of the operation. So-called conservatives, neocons, and other regular people said yes,,good idea. Now it seems like the Chinese benefited from the our blood and taxpayer dollars...pretty good, huh? What dumbasses them neocons. ..TM7

 I AGREE AMEN BROTHER.

[-Shaggy-]

Shaggy...if you're happy with the way the Iraqui-Chinese deal turns out...then so am I. But I reckon alot of so-called conservatives and neocons might not be..... that is the point. We'll see what the spin on it turns out to be.                                                                                                                             
Doesn't matter if  you, I , conservatives, neocons, or the Girl Scouts are happy about the deal. This country has spent a lot of blood and money to give the Iraqis the right to run their business as they see fit. Apparently, they are doing just that. Seems they might be getting some idea what "freedom" means. And I really don't give a damn what the "spin" is.                                                                                                                                                                                                                                                                                                                                                                                                             In any case Sad'dam had a deal cooking with the Chinese before the Americans entered the scene physically....could have saved everybody alot of intell cooking, lying, and destruction if they went directly to China and did the deal back then.

..TM7

   This part I don't understand at all. Who are "they"?

[Graybeard]

I wish you guys would learn to use the quote function it would make life simpler for all of us.

[-Shaggy-]

This part I don't understand at all. Who are "they"?

I.E.  They could have done the deal with china without one drop of our involvement with their affairs. They were going to do a deal with the Chinese then,,,and after our costly involvment they are still doing a deal with the chinese. The whole war is therefore null and void, futile, and oxymoronic.....what a waste of time and energy. Your thesis is really weak by the reckoning of the average American paying $4 or $5 per gallon, when we could have spent the $3Trillion here to help develop America rather than develop deals with Iracq and the Chinese.

..TM7

One oil deal with China does not mean we have lost the war. It means that we did not go there to steal their oil. It means it is their oil and they can sell it as they see fit. That is what a free country does. If we were to tell them they could only sell their oil to us, then "The whole war is therefore null and void, futile, and oxymoronic.....what a waste of time and energy."  I think that your Ron Paul thesis that we should all stay home and let the rest of the world go to hell is rather "weak" also. Once the rest of the world arrives in hell, hell is going to come here. I would rather it didn't.

[-Shaggy-]

I wish you guys would learn to use the quote function it would make life simpler for all of us.

I'll work on it.

[powderman]

SHAGGY. YEP. Ya make too much sense. POWDERMAN. 

[Swampman]

BILLY. When tm said, our blood, he wasn't talking about American blood. Lots of his Godless friends have died too.
tm. You have a lot of nerve talking about anybody  attacking you, you do that all the time to several of us. I reckon you being a mod you think it's ok to attack whoever you want and call names. It shouldn't be, but appears to be so. I don't see you as American in any sense of the word. POWDERMAN. 

Mega Dittos!

[canon6]

Can you imagine the wails of  "war for oil" if  Irag  had of entered into an agreement with the evil U.S, who we all know is run by EVIL BIG OIL , read Bush,Cheny and all of the rest of the Neocon's.
It seems that we  cannot win, with a certain element in  OUR  country.   Doug

[-Shaggy-]

This part I don't understand at all. Who are "they"?

I.E.  They could have done the deal with china without one drop of our involvement with their affairs. They were going to do a deal with the Chinese then,,,and after our costly involvment they are still doing a deal with the chinese. The whole war is therefore null and void, futile, and oxymoronic.....what a waste of time and energy. Your thesis is really weak by the reckoning of the average American paying $4 or $5 per gallon, when we could have spent the $3Trillion here to help develop America rather than develop deals with Iracq and the Chinese.

..TM7

One oil deal with China does not mean we have lost the war. It means that we did not go there to steal their oil. It means it is their oil and they can sell it as they see fit. That is what a free country does. If we were to tell them they could only sell their oil to us, then "The whole war is therefore null and void, futile, and oxymoronic.....what a waste of time and energy."  I think that your Ron Paul thesis that we should all stay home and let the rest of the world go to hell is rather "weak" also. Once the rest of the world arrives in hell, hell is going to come here. I would rather it didn't.

.
Shaggy...I don't know what your experience in the business world is, but when two parties have a mutually benefical relationship on going they usually continue to prosper the relationship. So if we liberated them, freed them, gave them the means to carry on business then some of that goodwill should have been spread our way (as Bush said would), and that is not too much to expec; not to mention that they could share some of the debt of all this liberation.. Otherwise they could have just done their Chinese deal 10 years ago without any of our involvement, liberation, or expense. Pretty good though it doesn't rub you the wrong way because it does most everybody else.

...TM7

My experience in the business world has usually been that goodwill is inversely proportional to the size of the entities doing the deal, I.E. the amount of money involved. I would imagine that when the amount is in the billions, goodwill is usually a very small factor. Regardless, $3billion over 22 years is not that big of a deal in the oil business. With Iraq's undeveloped oil reserves, there will be many more and bigger deals in the future. The Chinese may be the first to land a contract, but they will not be the only one. Several US companies are negotiating now for various projects. Maybe some of that goodwill will evidence soon. Maybe after the Chinese develop the oil field in Ahdab we will get the oil. I do not have the ability to predict the future, but I also try not to see everything as pending doom.

As far as "Pretty good though it doesn't rub you the wrong way because it does most everybody else." goes, don't you usually refer to people who go along with most everybody else as "sheeple"? I like to choose for myself how I get rubbed.