Comments on: Petrel Resources’ high hopes for PSA from Saddam-era Iraq oil deal… http://www.iraqoilreport.com/2008/03/04/petrel-resources%e2%80%99-high-hopes-for-psa-from-saddam-era-iraq-oil-deal%e2%80%a6/ Mon, 08 Sep 2008 09:14:13 +0000 http://wordpress.org/?v=2.6.1 By: bernard shakey http://www.iraqoilreport.com/2008/03/04/petrel-resources%e2%80%99-high-hopes-for-psa-from-saddam-era-iraq-oil-deal%e2%80%a6/#comment-133 bernard shakey Wed, 05 Mar 2008 22:30:59 +0000 http://iraqoilreport.com/2008/03/04/petrel-resources%e2%80%99-high-hopes-for-psa-from-saddam-era-iraq-oil-deal%e2%80%a6/#comment-133 <b>The current usa administration is working on two agreements on future ties with Iraq - one relating to US military forces there and another setting out the framework for diplomatic relations with Baghdad.</b> http://news.yahoo.com/s/nm/20080304/pl_nm/iraq_usa_agreement_dc_1 Until now, the administration had spoken of one agreement to be reached with Baghdad before the current administration leaves office next January. The plan for any document on future ties has stirred considerable concern among lawmakers and presidential candidates over whether it would lock in a long-term US military presence. Critics say the administration should seek congressional approval for security agreements with Iraq. One congressional critic, Representative William Delahunt of Massachusetts, said he thought such a framework would require congressional approval. Delahunt also said the planned status of forces agreement would contain an "authority to fight" that is not in most such deals, which tend to focus on things like criminal and tax liability of US soldiers stationed abroad. <b>"They are attempting, obviously, to circumvent Congress.</b> The authority to use American military forces overseas is a shared power," Delahunt told Reuters. The United States currently has 160,000 occupation troops stationed in Iraq, plus close to 200,000 mercenaries on the usa taxpayer payroll. The current usa administration is working on two agreements on future ties with Iraq - one relating to US military forces there and another setting out the framework for diplomatic relations with Baghdad.

http://news.yahoo.com/s/nm/20080304/pl_nm/iraq_usa_agreement_dc_1

Until now, the administration had spoken of one agreement to be reached with Baghdad before the current administration leaves office next January.

The plan for any document on future ties has stirred considerable concern among lawmakers and presidential candidates over whether it would lock in a long-term US military presence. Critics say the administration should seek congressional approval for security agreements with Iraq.

One congressional critic, Representative William Delahunt of Massachusetts, said he thought such a framework would require congressional approval.

Delahunt also said the planned status of forces agreement would contain an “authority to fight” that is not in most such deals, which tend to focus on things like criminal and tax liability of US soldiers stationed abroad.

“They are attempting, obviously, to circumvent Congress. The authority to use American military forces overseas is a shared power,” Delahunt told Reuters.

The United States currently has 160,000 occupation troops stationed in Iraq, plus close to 200,000 mercenaries on the usa taxpayer payroll.

]]> By: bernard shakey http://www.iraqoilreport.com/2008/03/04/petrel-resources%e2%80%99-high-hopes-for-psa-from-saddam-era-iraq-oil-deal%e2%80%a6/#comment-134 bernard shakey Wed, 05 Mar 2008 22:27:04 +0000 http://iraqoilreport.com/2008/03/04/petrel-resources%e2%80%99-high-hopes-for-psa-from-saddam-era-iraq-oil-deal%e2%80%a6/#comment-134 <b>Iraq's cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation's crude output.</b> http://news.yahoo.com/s/ap/20080305/ap_on_re_mi_ea/iraq_oil_deals_1 The two-year deals, known as technical support agreements ( TSAs ), are designed to develop five producing fields to add 500,000 barrels per day to the country's 2.4 million barrels per day output. Last December, Royal Dutch Shell, British Petroleum, Exxon Mobil and Chevron submitted technical and financial proposals for the five fields and received counterproposals from the Iraqi side. In January, representatives from the companies and Iraq met again in Amman, Jordan, and they will hold a third round of discussions later this month. In Vienna, Iraq's Oil Minister Hussein al-Shahristani said Iraq intends to compensate these companies with crude oil rather than in cash. Speaking to reporters as he arrived for a meeting of the Organization of Petroleum Exporting Countries, al-Shahristani said the Oil Ministry was still working on the compensation details with the Development Fund of Iraq, which is controlled by the United States and the United Nations. Iraq's average production was 2.4 million barrels per day in January while exports stood at an average of 1.92 million barrels per day. December's exports averaged 1.81 million barrels per day. The oil giants are among more than 70 international firms that met the ministry's deadline of February 18 to compete to help develop Iraq's oil reserves, seen as vital to providing the funds to rebuild the shattered country. Iraq is in dire need of expertise from international oil companies to achieve the Oil Ministry's target of 3 million barrels per day by the end of 2008. The country has been relying on a Saddam Hussein era natural resources law until Parliament approves a new oil law to regulate the international oil companies' work and share Iraq's oil resources among the country's Shiites, Sunni Arabs and Kurds. Iraq’s cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation’s crude output.

http://news.yahoo.com/s/ap/20080305/ap_on_re_mi_ea/iraq_oil_deals_1

The two-year deals, known as technical support agreements ( TSAs ), are designed to develop five producing fields to add 500,000 barrels per day to the country’s 2.4 million barrels per day output.

Last December, Royal Dutch Shell, British Petroleum, Exxon Mobil and Chevron submitted technical and financial proposals for the five fields and received counterproposals from the Iraqi side.

In January, representatives from the companies and Iraq met again in Amman, Jordan, and they will hold a third round of discussions later this month.

In Vienna, Iraq’s Oil Minister Hussein al-Shahristani said Iraq intends to compensate these companies with crude oil rather than in cash.

Speaking to reporters as he arrived for a meeting of the Organization of Petroleum Exporting Countries, al-Shahristani said the Oil Ministry was still working on the compensation details with the Development Fund of Iraq, which is controlled by the United States and the United Nations.

Iraq’s average production was 2.4 million barrels per day in January while exports stood at an average of 1.92 million barrels per day. December’s exports averaged 1.81 million barrels per day.

The oil giants are among more than 70 international firms that met the ministry’s deadline of February 18 to compete to help develop Iraq’s oil reserves, seen as vital to providing the funds to rebuild the shattered country.

Iraq is in dire need of expertise from international oil companies to achieve the Oil Ministry’s target of 3 million barrels per day by the end of 2008. The country has been relying on a Saddam Hussein era natural resources law until Parliament approves a new oil law to regulate the international oil companies’ work and share Iraq’s oil resources among the country’s Shiites, Sunni Arabs and Kurds.

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