11-16 GLOBAL COMPANIES MOVE AGRESSIVELY ON IRAQI OIL

[Dinerry]

Article Date : Tuesday November 16 2010

(Ooops. The headline is referring to the date of 11-16 )

The Article :

The current efforts to dramatically increase Iraq’s oil production are huge in scale and revolutionary in forming a working partnership between Iraq’s own oil industry and the world’s largest oil companies. But more important at the present is the fact that they are working by any definition.

The genesis, the lobbying, the creative work and the current implementation of these projects is the work of often unrecognized Iraqi oil professionals who, for nearly all of their careers, have been denied the opportunity to continue their successful work from the 1970s. This is an Iraqi effort, in a constructive partnership with foreign companies.

Outside Iraq, observers remain sceptical, but on the ground, there is little time for scepticism. Events are moving quickly. The international companies leading the field developments are complying with demanding contractual requirements. A wide array of global private support and infrastructure companies from around the world have moved aggressively to secure work. The Iraqi government and oil ministry, while young and short on experience, are moving ahead in tackling tough and hugely expensive infrastructure projects.

Of course there are problems: landmines, failing infrastructure, worries about security, and substantial training requirements for Iraqi oil personnel. Importantly oil developments have not been the subject of political interference or criticism. But a new government will need to address the completion of already written oil-related legislation. Most critical is the need to enact a transparent and credible revenue-sharing law. An assurance that the benefits of increasing oil revenue will be fairly distributed across the country would support both the oil projects and Iraq’s political evolution.

http://bit.ly/bRLw2i

Edited November 17, 2010 by Dinerry

[JugDawg1]

Like it says in your post. EVENTS ARE MOVING QUICKLY! Ya Buddy!

Oh and thanks Dinerry for the post. TOOOOO COOL.

Edited November 17, 2010 by JugDawg1