Russia: Oil Giants Try to Beat US to Iraqi Reserves
By Nick Paton Walsh
Zarubezhneft's general director, Nikolai Tokaryev, said in an interview with the newspaper Vremya Novosti that they were negotiating how to pay.
"This field is unique, with reserves of about 3bn tons," Mr. Tokaryev said.
"Every company dreams of such a field. However, its development will require billions of dollars."
Russia has been increasing its control of Iraqi oilfields during the 90s in a bid to control its reserves, the second biggest after Saudi Arabia.
Lukoil, the biggest oil company in Russia, bragged in September that it had received assurances from the Kremlin that their assets in Iraq -- a $20bn contract to drill the West Qurna oilfield -- would be protected in the event of a regime change.
The statement was swiftly retracted.
Moscow is highly concerned that American oil firms will use the political vacuum of a Pentagon takeover of Baghdad to consider all contracts signed under the Saddam regime as invalid, and take control of the oilfields.
"The Americans won't share this market with anyone," said Mr. Tokaryev. "They don't need us there."
COMMENT: Money is the motivation behind everything. This war has nothing to do with terrorism or helping the people or Iraq. That crap is for public consumption as the public pretty much accepts whatever they are told. Every political decision can be traced to greed. Human nature is the most predictable thing on this planet.
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