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Iraq, France and OIL..

Contributor: Barretm82

Date: 2003-02-15 22:28:53

It seems Oil is more of a curse for the Iraqi people.
Just incase anyone thought France was "Honestly pursuing" for world peace. This comes along. :(

I might also add this deal was struck with Saddam for Frances support.
I guess the greed never ends. $$$

French oil giant TotalFinaElf has exclusive exploration contracts worth $US40-50 billion to develop the massive Majnoon and Bin Umar oilfields in southern Iraq.

Oil experts who had analysed the deal described it as "extraordinarily lopsided" in favour of the French company.

"This is not your normal oil exploration contract."

Total is currently barred from working on the oil fields because of the economic sanctions against Iraq.

If Saddam is overthrown the new regime is likely to nullify existing contracts and invite oil companies from around the globe to compete for new deals.

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Iraq, France and OIL..

Contributor: kn_aeshap

Date: 2003-02-18 02:46:11

Could you please cite your sources?

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Iraq, France and OIL..

Contributor: Barretm82

Date: 2003-02-18 12:27:34

You will have to do some digging on TotalFinaElf in France. Look up there contracts for development Iraq. I.E. Post-U.N. Sanctions Development Plans.

Can you read & write in French? If so, do some searching on the web for public info on Iraq and TotalFinaElf you should find some.

Here is an info link;
http://ca.news.yahoo.com/030102/6/r5l4.html

I would also suggest you start here; look for TotalFinaElf.
http://www.eia.doe.gov/emeu/cabs/iraq.html

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Iraq, France and OIL..

Contributor: kn_aeshap

Date: 2003-02-18 16:10:19

I wasn't really questioning what you said- what I was attempting to say, is that when you make references to particular things (quotations, statistics, etc) you should cite your sources. Just "saying" something isn't really enough for discussion.

And if you want objective information on the business dealings and what-have-you -in global oil markets and the business surrounding it- you should read Oil and Gas International (http://www.oilandgasinternational.com). They report up-to-date statistics, information about business and the companies involved...maps, new ventures, etc.

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Iraq, France and OIL..

Contributor: Barretm82

Date: 2003-02-18 23:40:33

Yes I see your point, originally my information came from Shareholder thoughts & opinions and that isn't public info.

So you had me on the go to find public detail I could post.

Thanks for the link; I'll look into it when I have time this weekend.

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Iraq, France and OIL..

Contributor: jwitt

Date: 2003-02-26 17:22:04

Here is a link to an Egyptian News site, not much really, but it may interest you as it discusses France's link to the Arab World

http://www.metimes.com/2K3/issue2003-8/methaus.htm

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Iraq, France and OIL..

Contributor: Fleabag

Date: 2003-02-27 21:31:09

TotalFinaElf is acting exactly as any US corporation would do. They risk losing billions in uncollected debt if Saddam falls. Hence France's stand against war. They most likely would not collect anything from Exxon once the US 'administers governance' regarding the Iraqi oilfields. They probably would be met with cries of "For Shame!" because they did business with a ruthless dictator.

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Iraq, France and OIL..

Contributor: jwitt

Date: 2003-02-28 15:18:09

You are entirely correct

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