Blog Junky
a group blog for the political omnivore (objective and equitable)

Monday, March 10, 2003  

Is it really about O-I-L?

Here is a quick link on French oil interests in Iraq. Also available is a slightly more in-depth DOE analysis of Iraq's oil.

Money quote:

The largest of Iraq's oilfields slated for post-sanctions development is Majnoon, with reserves of 12-30 billion barrels of 28o-35o API oil, and located 30 miles north of Basra on the Iranian border. French company TotalFinaElf reportedly has signed a deal with Iraq on development rights for Majnoon. Majnoon was reportedly brought onstream (under a "national effort" program begun in 1999) in May 2002 at 50,000 bbl/d, with output possibly reaching 100,000 bbl/d by the end of 2002 (according to former Oil Minister Rashid).

All of those agreements would be scrapped with the ushering in of a new Iraqi government since they are not advantageous for Iraq's people and only make sense if it is a quid pro quo for Saddam. You will notice that a bunch of nations, including Russia and China have signed such deals with Iraq, but France is in the driver's seat.

Of course it is about O-I-L, whether you are talking about Chirac or Perle. See the post further down the page if you don't know who Perle is.

posted by Calvin | 5:27 PM

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