Industrialized Cyclist Notepad


not-so-interesting stops on the road to civil war

The move by Exxon to quit the West Qurna-1 oilfield in south Iraq will exacerbate tensions between Baghdad and the autonomous Iraqi Kurdistan region, where Exxon has signed oil deals seen as more lucrative but dismissed by the central government as illegal.

Kurdistan has upset Baghdad by signing oil deals with foreign companies including Exxon, Chevron and Total . Kurdish officials say they have the constitutional right to do so, but the central government says only it controls oil policy.

via UPDATE 3-Iraq says Exxon to quit oilfield, ends Turkey TPAO deal | Reuters.



Lukoil in Iraq

As Norwegian Statoil bugs out.

Lukoil aims to invest around $2 billion in the West Qurna-2 oil field in Iraq this year, Bloomberg News reports. A company spokesman told Bloomberg that $200 million was invested there in 2011.

The oil company, the largest private energy company in Russia, also announced plans to start construction on a new oil pipeline and spell out details for its drilling program.

via Lukoil unveils investment plans for Iraq – UPI.com.




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