Statistically 80 % of the country is ignoring the whole thing. I on the other hand feel a need to make some points about what the news is not telling us. Not A word about it. FACT....British major BP has a 38% working interest in the flagship Rumaila oilfield in southern Iraq. Counted as one of the top five oilfields in the world, Rumaila is estimated to hold reserves of nearly 18 billion barrels and currently produces the majority of Iraqs total daily output of around 3.5 million barrels. However, BP’s share of output from Iraq is immaterial to its total daily production of more than 2 million barrels. U.S. behemoth Exxon Mobil has roughly 900,000 acres of onshore leasehold land in Iraq. The company also possesses development wells in the country’s West Qurna field, another big facility that holds approximately half the proved reserves of Rumaila. Exxon Mobil, which sold all but 25% of its stake in the field to Chinese energy giant PetroChina Co. Ltd. (PTR - Analyst Report) and Indonesia’s Pertamina in 2013, gets paid $1.90 per barrel for each one it produces above 244,000 barrels a day. Europe’s largest oil company Royal Dutch Shell holds a 45% operated interest in the giant Majnoon field, located in Basra province in Southern Iraq. With about 12.6 billion barrels in proved reserves, production was restarted from the oilfield in September last year. Volumes averaged 210,000 barrels a day, when Shell achieved first shipment from the development in Apr. Chevron – the second-largest U.S. oil company by market value after Exxon Mobil – holds an 80% operated interest in the development-stage Qara Dagh block in Kurdistan region of Iraq. However, due to its involvement with the Kurdish regional government, Chevron has been barred from bidding on projects in the rest of Iraq WAKE UP AMERICA.
Posted on: Wed, 27 Aug 2014 10:52:17 +0000
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