Petrel Resources - moderated discussion/research part II
mixitup12 - Thu, 28 Dec 06 :
SS said- Once the PSAs are in place the majors will then put pressure on the Iraqis to provide the security by using the armed forces if necessary to get the oil flowing. If this doesn`t work the majors will then just sit on the contracts until the security situation improves. Having X amount of reserves will go on the balance sheet and the oil company can then wait till the cows come home, if necessary!
An utterly pathetic assessment of the situation! It is imperative for the Iraqi's to earn foreign currency. The oil majors won't move until the situation clears itself security-wise. The Iraqis certainly won't allow the oil majors to book the reserves and sit on them. The Iraqi's need the money, that is why the HCL is so important. They need the oil pumping out of the ground and earning money for the government. The current oil revenue isn't enough to finance new projects and employ Iraqis. Unemployment being one cause of the insurgency.
Oil majors may bid for contracts, but you won't get their employees out there even if they win. BP will have to have had a change of heart from Lord Browne's last utterances on Iraq. The Japanese government has promised over $3 billion to rebuild the Iraq oil infrastructure. I presume you are aware that Itochu is an oil major? The Iraqi's aren't going to award contracts to every one other than Japanese companies are they? As far as I know any investment in Iraq has to have an Iraqi partner, which PET has had for years now. Which is the only oil company that has been in Iraq for the last 8 years, helped to save documents from the IOM at the height of the war? Wasn't it DH that said a little bit of Iraq would be enough for PET. There being enough oil in Iraq for everyone to get a piece of the action.
Your posts are not naive but deliberately misleading as they are all part of your deramping orders and cannot be backed up with any evidence.
I suggest you take your opinions and posts to your master's stable and throw them in with the rest of the horse-shit.
