Kurdistan & Iraq Oil Agreement with US pressure

Kurdistan & Iraq Oil Agreement with US pressure

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U.S. Energy Influence in Iraq

February 9, 2012 | 1254 GMT

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Summary

SAFIN HAMED/AFP/Getty Images

Engineers at the Khurmala oil field south of Arbil, Iraq

On Jan. 31, Baghdad withdrew its opposition to a deal between ExxonMobil and the Kurdistan Regional Government, a move that reflects the conflicts between and among Iraq's various political actors. Energy negotiations with the United States are one arena where the al-Maliki government has been forced to make significant concessions recently. Iran typically holds the upper hand when it comes to influencing Baghdad and controlling Iraq's sectarian conflicts, but it cannot compete with the investment capital and technologies that U.S. firms can bring to bear.

 

rest of article here:  http://www.stratfor.com/analysis/us-energy-influence-iraq

 

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If this analysis is true, then the fortunes of the oil explorers in Kurdistan has just taken a turn for the better.

 

Marco G.

Exxon, Iraq and Kurdistan - Future

Analysis: Exxon Kurdistan foray tests Iraq's centralist resolve

 

 

By Patrick Markey

BAGHDAD | Thu Nov 24, 2011 12:10pm EST

(Reuters) - Exxon Mobil's venture into Iraqi Kurdistan challenges Prime Minister Nuri al-Maliki's resolve against growing regional separatism and tests the investment strategy of the oil majors in Iraq.

source:  http://www.reuters.com/article/2011/11/24/us-exxon-iraq-idUSTRE7AN1GC20111124?type=GCA-GreenBusiness&feedType=RSS&feedName=GCA-GreenBusiness&rpc=43

In the Goombarh's opinion, it would be worthwhile to put a few Kurd oil explorers in your pocket, and await the resolving of a few political issues, which seem on the way to resolving.

Future of Oil in Kurdistan - Bright

The future of oil in Kurdistan

By Javier Blas in Erbil, northern Iraq

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/13d2ef50-11c7-11e1-9d4d-00144feabdc0.html#ixzz1eS71Ltny

I have spent the past few days touring the oil-rich semi-autonomous region of Kurdistan in northern Iraq, visiting oilfields and interviewing its officials and foreign executives. It is boom time for Kurdistan, which optimists hope could soon produce more oil than some members of Opec. As I am leaving, Kurdistan is celebrating thearrival of ExxonMobil, the first of the so-called supermajors to enter the territory to explore for oil.

But the future will not be a simple trajectory.

Exploration success. The oil and gas map of Kurdistan five years ago was largely blank. Today, dozens of oilfields dot it as companies discover hydrocarbons in commercial quantities in eight of every ten wells they drill. But drilling is not as easy as it appeared to be a few years ago, due to the complex geology of the region, and budgets are overrunning by more than a third in some cases.

continues here:

http://www.ft.com/intl/cms/s/0/13d2ef50-11c7-11e1-9d4d-00144feabdc0.html#axzz1e4Ofchr1

 

Big Oil Moving In On Kurdistan

With the declining oil resources around the world, Kurdistan is one of the final frontiers, where there are huge possibilities.

This is demonstrated by the recent moves of Exxon Mobil and Chevron as indicated in the reports below:

http://www.reuters.com/article/2011/11/13/exxon-kurdistan-idUSL5E7MD04G20111113

http://www.independent.co.uk/news/business/news/chevron-to-join-slick-of-oil-supermajors-in-kurdistan-6261405.html

The above news has added about 80% to the stock price of Vast Exploration (VST:TSX) and 10% to Westernzagros (WZR:TSX), the smaller explorers that the Goombarh owns.

Other larger companies such as Gulf Keystone have soared up to 25% on this news.