Lukoil refuses to take over ExxonMobil stake in Iraqi project
RT | December 24, 2012
The Russian oil producer Lukoil has turned down an offer from the Iraqi government to replace Exxon Mobil at the West Qurna-1 field in Iraq.
The development of a large-scale project such as West Qurna 1 would bring additional risks to the company, which is already developing the West Qurna 2 project in Iraq, which requires up to $5bn investment, said Andrey Kuzyaev, head of Lukoil Overseas.
Earlier this year Baghdad considered inviting Russia’s Lukoil and Gazprom Neft – both already operating a number of projects in the country, instead of Exxon Mobil to develop the West Qurna-1. Iraqi authorities were angered by ExxonMobil’s deal signed with the Kurdistan regional government , sources in the industry told RT.
In 2010 Exxon and the semi-autonomous Kurdistan regional government signed a number of deals to develop six blocks in West Qurna without Baghdad’s approval. Outraged by the move the Iraqi authorities threatened the American company with sanctions.
Later ExxonMobil told the Iraqi government it wants to give up the $50 billion project of West Qurna-1. Iraq expects Exxon to complete the sale of its shares in West Qurna-1 by the end of the year.
Meanwhile CNPC unit Petrochina and several other companies such as British BP and Italy’s ENI have been reportedly negotiating for Exxon’s 60% stake in order to develop West Qurna-1 in partnership with Royal Dutch Shell, according to Iraqi sources
Currently Lukoil holds a dominant 75% stake in the West Qurna-2 oil field. It is developing the oil deposits in partnership with Iraqi state-run North Oil Company since Norway’s Statoil left the project.
The West Qurna field is believed to hold about 43 billion barrels, making it the second largest oil field in the world after Ghawar in Saudi Arabia.
December 24, 2012 Posted by aletho | Economics, Timeless or most popular, Wars for Israel | Exxon, ExxonMobil, Iraq, Lukoil, West Qurna | Leave a comment
Featured Video
Liberty Cannot Exist Inside a Panopticon
or go to
Aletho News Archives – Video-Images
From the Archives
Left-leaning despisers of 9/11 Truth movement: Do you really believe in miracles?
David Ray Griffin | Global Research | 06 Jul 2010
An Open Letter to Terry Allen, Noam Chomsky, Alexander Cockburn, David Corn, Chris Hayes, George Monbiot, Matthew Rothschild, and Matt Taibbi.
[1]According to several left-leaning critics of the 9/11 Truth Movement, some of its central claims, especially about the destruction of the World Trade Center, show its members to be scientifically challenged. In the opinion of some of these critics, moreover, claims made by members of this movement are sometimes unscientific in the strongest possible sense, implying an acceptance of magic and miracles. … Full article
Blog Roll
-
Join 2,352 other subscribers
Visits Since December 2009
- 7,770,634 hits
Looking for something?
Archives
Calendar
Categories
Aletho News Civil Liberties Corruption Deception Economics Environmentalism Ethnic Cleansing, Racism, Zionism Fake News False Flag Terrorism Full Spectrum Dominance Illegal Occupation Mainstream Media, Warmongering Malthusian Ideology, Phony Scarcity Militarism Progressive Hypocrite Russophobia Science and Pseudo-Science Solidarity and Activism Subjugation - Torture Supremacism, Social Darwinism Timeless or most popular Video War Crimes Wars for IsraelTags
Afghanistan Africa AIPAC al-Qaeda Australia BBC Benjamin Netanyahu Brazil Canada CDC Central Intelligence Agency China CIA CNN Covid-19 COVID-19 Vaccine Donald Trump Egypt European Union Facebook FBI FDA France Gaza Germany Google Hamas Hebron Hezbollah Hillary Clinton Human rights Hungary India Iran Iraq ISIS Israel Israeli settlement Japan Jerusalem Joe Biden Korea Latin America Lebanon Libya Middle East National Security Agency NATO New York Times North Korea NSA Obama Pakistan Palestine Poland Qatar Russia Sanctions against Iran Saudi Arabia Syria The Guardian Turkiye Twitter UAE UK Ukraine United Nations United States USA Venezuela Washington Post West Bank WHO Yemen Zionism
Aletho News- White House envoy declares kinetic action against Yemen ‘fruitless’
- Ukraine deployed thousands of microdrones in Iraqi Kurdistan: Tasnim
- Iran calls for emergency UNSC meeting over Trump’s ‘brazen’ bomb talk, Israeli threats
- Iranian sources reveal details of Russia-China Hormuz proposal
- Plan for more US-Israel integration puts our military tech at risk
- Another Round Against Iran Will Break What Is Left of the Gulf
- SVR Report on Ukraine’s Mexican Drug Gang Links Could Pressure Zelensky, Won’t Change US Policy
- British Government Employees Were Fact-Checking the News at the BBC. Nobody Told You.
- Albania on fire: who’s behind the riots?
- Egypt’s Civil Democratic Movement rejects involvement in regional war
If Americans Knew- Mysterious bot accounts reportedly spread fake ‘man on the street’ videos for Michigan Senate candidate
- Israeli Defense Minister Katz Says Over 60 Lebanon Villages Have Been Destroyed
- Why Is Israel Running TV Ads in Iowa Ahead of the Midterms?
- Hind Rajab’s Alleged Killer Is in the United States. HRF Demands His Arrest.
- US Officials Face Fresh Pressure After Another American ‘Brutalized’ by Israeli Settlers in West Bank
- Israel-Backed Palestinian Militias Terrorize Displaced Families in Gaza
- FBI subpoenas pro-Palestine activists over Israeli weapons plant disruption
- Fourth winter arrives in wartorn Gaza, too early – Daily Update
- More on how Bari Weiss is using CBS on behalf of Israel
- What the UK Is Doing to Pro-Palestine Novelist Sally Rooney Is an Act of Orwellian Villainy
No Tricks Zone- Predictions Made By Renowned Climate Proifessor Over Past Decades Have Been Proven To Be Poor
- New Study Suggests Large Regions Of The Pacific Ocean Have Been Cooling For The Last 80 Years
- Germany’s Green Energy Debacle: High Energy Costs Force Kahla Porzellan to Close After 182 Years!
- New Study: 50 Years Of The Most Aggressive ‘Net Zero’ Policies Can Only Affect The Global Climate By 0.03°C
- US September “Heat” Was No Record…Many Records Set Decades Ago
- Latest European Green Energy Debacle; Portugal’s Largest Flagship Solar Park Insolvent!
- Green Energy Debacle: German Expert Professor Fritz Vahrenholt Warns Of Severe Economic And Social Consequences
- Two More Paleo Reconstructions Affirm Meters-Higher Sea Levels Across Ireland, Brazil 7000-6000 Years Ago
- New Study: Earth And Venus Surface Warmth Largely Explained By Convection And Lapse Rate, Not CO2 Or Radiation
- 2025 Nature Paper Claiming Worsening Global Drought Gets RETRACTED …Heavily Flawed
Contact:
atheonews (at) gmail.com
Disclaimer
This site is provided as a research and reference tool. Although we make every reasonable effort to ensure that the information and data provided at this site are useful, accurate, and current, we cannot guarantee that the information and data provided here will be error-free. By using this site, you assume all responsibility for and risk arising from your use of and reliance upon the contents of this site.
This site and the information available through it do not, and are not intended to constitute legal advice. Should you require legal advice, you should consult your own attorney.
Nothing within this site or linked to by this site constitutes investment advice or medical advice.
Materials accessible from or added to this site by third parties, such as comments posted, are strictly the responsibility of the third party who added such materials or made them accessible and we neither endorse nor undertake to control, monitor, edit or assume responsibility for any such third-party material.
The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.
The word “alleged” is deemed to occur before the word “fraud.” Since the rule of law still applies. To peasants, at least.
Fair Use
This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more info go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.
DMCA Contact
This is information for anyone that wishes to challenge our “fair use” of copyrighted material.
If you are a legal copyright holder or a designated agent for such and you believe that content residing on or accessible through our website infringes a copyright and falls outside the boundaries of “Fair Use”, please send a notice of infringement by contacting atheonews@gmail.com.
We will respond and take necessary action immediately.
If notice is given of an alleged copyright violation we will act expeditiously to remove or disable access to the material(s) in question.
All 3rd party material posted on this website is copyright the respective owners / authors. Aletho News makes no claim of copyright on such material.
