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Carving Up Iraq, Barrel by Barrel

Oilprice.com -- Iraq’s latest energy auction was a flop, and while major international companies balked at everything from unattractive contract terms to security concerns, the failure of the auction highlights how the struggle for power between north and south is shaping the future of energy in the region and beyond.

Earlier this week, Iraq held its fourth round of energy auctions with disappointing results that reflect the global gas glut, the rise of unconventional oil and gas and some very particular geopolitical maneuverings.

During the two-day auction which closed on 31 May, Iraq managed to seal a deal for only three contracts out of 12 gas and oil exploration blocks on auction.

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Submitted Jun 04, 2012 By: NOTSOGRN

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honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Jun 7, 2012 4:52:01 AM Ignore honda0105 Report Abuse I s'pose, just like those elusive WMD, the ROI for Iraq will never manifest.
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Jun 7, 2012 4:51:23 AM Ignore honda0105 Report Abuse tomok: I agree, the Iraqi people were delighted to throw off Saddam Hussain's yoke but then they didn't want anything to do w/ the Americans for the most part.
tomok Champion Author Portland Posts:33,034 Points:2,346,485 Joined:Aug 2006	Message Posted: Jun 5, 2012 2:31:01 AM Ignore tomok Report Abuse The bidding oil companies have to protect their investment, equipment and employees at all costs. IF the companies feels the area is Not safe or the government is Not fair, then No bidding for Iraq oil. Iraq should repay the US for the sacrifice and immense help for their freedom but that will never happen. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost, if possible. The price of fuel at the pump is too high! 12/22/2012!
ty58 Veteran Author Akron Posts:320 Points:485,280 Joined:Jun 2011	Message Posted: Jun 4, 2012 11:48:00 PM Ignore ty58 Report Abuse that's right airmyrah07
pgerassi Champion Author Milwaukee Posts:10,901 Points:2,132,580 Joined:Apr 2007	Message Posted: Jun 4, 2012 11:16:58 PM Ignore pgerassi Report Abuse ok.
airmyrah07 Rookie Author St. Louis Posts:1 Points:295 Joined:Jun 2012	Message Posted: Jun 4, 2012 11:04:38 PM Ignore airmyrah07 Report Abuse Yeah everybody keep complaining about what Obama doing and he trying fix the mess Bush made
merlinCO Champion Author Colorado Posts:1,645 Points:342,370 Joined:Mar 2012	Message Posted: Jun 4, 2012 11:03:45 PM Ignore merlinCO Report Abuse Just goes to show how protecting your personal investment as a president can lead the world to shambles and keep you rich and in the spotlight.
julesTN Veteran Author Nashville Posts:383 Points:164,870 Joined:Aug 2011	Message Posted: Jun 4, 2012 11:01:09 PM Ignore julesTN Report Abuse just heard on the news today about how more oil refineries are closing up in the U.S. and allowing only one or two to do the bulk of it - this can only be detrimental for future reserves and production - so much for Ahking's wishes! it's always ALWAYS about the money and how much can be made from ploys and politics
jem069 Champion Author Detroit Posts:2,543 Points:688,055 Joined:Jan 2011	Message Posted: Jun 4, 2012 11:00:05 PM Ignore jem069 Report Abuse Ok
USAv8tor Veteran Author Long Island Posts:348 Points:138,665 Joined:Mar 2012	Message Posted: Jun 4, 2012 10:58:59 PM Ignore USAv8tor Report Abuse Where is our Iraqi oil investment?! We pulled out our troops and now they're screwing us over on our investment.
crazycow2332 Champion Author Nashville Posts:1,217 Points:255,080 Joined:May 2010	Message Posted: Jun 4, 2012 10:58:59 PM Ignore crazycow2332 Report Abuse ok
ty58 Veteran Author Akron Posts:320 Points:485,280 Joined:Jun 2011	Message Posted: Jun 4, 2012 10:57:35 PM Ignore ty58 Report Abuse it could all go in smoke tomorrow
Goody2317 All-Star Author Wilmington Posts:680 Points:620,005 Joined:Jun 2008	Message Posted: Jun 4, 2012 10:57:31 PM Ignore Goody2317 Report Abuse I agree with wz.
wz Champion Author Twin Cities Posts:2,489 Points:1,277,315 Joined:Feb 2009	Message Posted: Jun 4, 2012 10:56:02 PM Ignore wz Report Abuse This shows that Iraq, as currently delineated, is not one country at all, but three (or more) different cultures being forced to obey a central government. Iraq should have been divided along cultural lines into Kurdish, Sunni and Shi'ite regions, with a time period (I suggest a year) for residents to relocate to their preferred side of the line before establishing citizenship.
TFowler513 Champion Author Memphis Posts:3,824 Points:1,413,985 Joined:Mar 2008	Message Posted: Jun 4, 2012 10:53:00 PM Ignore TFowler513 Report Abuse I'm with you, Ahking!!!
Ahking Champion Author Orange County Posts:3,507 Points:603,450 Joined:May 2011	Message Posted: Jun 4, 2012 10:44:54 PM Ignore Ahking Report Abuse still looking forward to the day when oil price is not in our general conversation when we have a robust & diversified portfolio of oil & renewable energy sources.
bonzoonfmb Champion Author Florida Posts:1,787 Points:645,260 Joined:Feb 2010	Message Posted: Jun 4, 2012 10:44:09 PM Ignore bonzoonfmb Report Abuse Don't know what this means but it won't have any impact on the price of oil from that region.
danreino Champion Author Twin Cities Posts:8,353 Points:1,540,730 Joined:Mar 2008	Message Posted: Jun 4, 2012 10:39:46 PM Ignore danreino Report Abuse These prices should still support tremendous growth in Iraq. Dont believe me ? Just ask Saudi Arabia...
bif65 Champion Author Virginia Posts:1,023 Points:195,480 Joined:Jan 2011	Message Posted: Jun 4, 2012 10:39:09 PM Ignore bif65 Report Abuse ok
SparkieMi Champion Author Kalamazoo Posts:3,266 Points:589,360 Joined:Sep 2011	Message Posted: Jun 4, 2012 10:36:30 PM Ignore SparkieMi Report Abuse Interesting!!!!
Mustache_33 All-Star Author Toronto Posts:900 Points:181,455 Joined:May 2012	Message Posted: Jun 4, 2012 10:35:59 PM Ignore Mustache_33 Report Abuse k
dchiou Champion Author San Jose Posts:2,821 Points:793,740 Joined:Feb 2007	Message Posted: Jun 4, 2012 10:34:26 PM Ignore dchiou Report Abuse ok
SpankyMI Champion Author Kalamazoo Posts:2,713 Points:760,255 Joined:Jan 2011	Message Posted: Jun 4, 2012 10:33:44 PM Ignore SpankyMI Report Abuse Paybacks?
CTarp Champion Author Texas Posts:1,236 Points:608,145 Joined:Apr 2011	Message Posted: Jun 4, 2012 10:32:19 PM Ignore CTarp Report Abuse Surprising
furiousfowl Champion Author Riverside Posts:16,860 Points:2,750,155 Joined:May 2005	Message Posted: Jun 4, 2012 10:29:25 PM Ignore furiousfowl Report Abuse Nobody is buying at these prices.
mstearno Champion Author Dayton Posts:8,071 Points:1,732,210 Joined:Jan 2008	Message Posted: Jun 4, 2012 10:28:55 PM Ignore mstearno Report Abuse sounds good
knot2swift Champion Author Calgary Posts:4,388 Points:697,955 Joined:Nov 2009	Message Posted: Jun 4, 2012 10:24:27 PM Ignore knot2swift Report Abuse I thought this was evil Cheney's domain with Halliburton. Is he dead yet?
blazerbob91 Champion Author Milwaukee Posts:6,145 Points:1,883,670 Joined:Aug 2005	Message Posted: Jun 4, 2012 10:14:57 PM Ignore blazerbob91 Report Abuse The middle east is still a hotbead.
serrog Champion Author Nova Scotia Posts:5,569 Points:1,513,105 Joined:Oct 2008	Message Posted: Jun 4, 2012 10:13:12 PM Ignore serrog Report Abuse Greed rules the day every time
abcdMA Champion Author Worcester Posts:7,927 Points:1,575,955 Joined:Nov 2008	Message Posted: Jun 4, 2012 10:07:26 PM Ignore abcdMA Report Abuse the bidders are worried about what happens next
inspiretl Veteran Author New Jersey Posts:417 Points:165,480 Joined:May 2012	Message Posted: Jun 4, 2012 10:01:29 PM Ignore inspiretl Report Abuse ok
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Jun 4, 2012 9:59:37 PM Ignore 96sc1 Report Abuse Can Iraq really afford to be greedy?
iamforiu Champion Author Indiana Posts:3,575 Points:711,740 Joined:May 2011	Message Posted: Jun 4, 2012 9:49:35 PM Ignore iamforiu Report Abuse so
Fedorov91 Champion Author Tampa Posts:1,465 Points:880,835 Joined:Oct 2008	Message Posted: Jun 4, 2012 9:48:08 PM Ignore Fedorov91 Report Abuse progress.. Thanks pres Bush
ggordo Champion Author Long Island Posts:1,680 Points:355,655 Joined:Apr 2012	Message Posted: Jun 4, 2012 9:47:49 PM Ignore ggordo Report Abuse so
petrpuck All-Star Author Hamilton Posts:559 Points:418,560 Joined:Nov 2011	Message Posted: Jun 4, 2012 9:46:57 PM Ignore petrpuck Report Abuse Neato
Yankee829 Champion Author Dallas Posts:2,211 Points:560,565 Joined:Sep 2010	Message Posted: Jun 4, 2012 9:42:51 PM Ignore Yankee829 Report Abuse Ok
thirstyauto Champion Author Milwaukee Posts:14,718 Points:1,619,770 Joined:Nov 2008	Message Posted: Jun 4, 2012 9:42:50 PM Ignore thirstyauto Report Abuse The question is what will be next???
Rooster922 Champion Author Wilmington Posts:3,793 Points:657,045 Joined:Jan 2009	Message Posted: Jun 4, 2012 9:42:44 PM Ignore Rooster922 Report Abuse Yep
garyr86 Champion Author Michigan Posts:1,998 Points:604,665 Joined:Dec 2010	Message Posted: Jun 4, 2012 9:38:02 PM Ignore garyr86 Report Abuse They are now learning about free enterprise and how to negotiate.
IUVidiot Champion Author Indiana Posts:3,590 Points:709,435 Joined:Jun 2011	Message Posted: Jun 4, 2012 9:37:33 PM Ignore IUVidiot Report Abuse hmmmmmm
CapNC Veteran Author North Carolina Posts:392 Points:361,885 Joined:Jul 2011	Message Posted: Jun 4, 2012 9:30:40 PM Ignore CapNC Report Abuse well, what can we expect, just more bad decisions
suzmar Champion Author Texas Posts:2,212 Points:872,740 Joined:Jun 2006	Message Posted: Jun 4, 2012 9:30:38 PM Ignore suzmar Report Abuse If we developed more of our own energy resources, it wouldn't matter as much what happens in the middle east.
saleboss Champion Author Phoenix Posts:3,929 Points:1,177,875 Joined:Feb 2006	Message Posted: Jun 4, 2012 9:25:39 PM Ignore saleboss Report Abuse Oh, that's really too bad!
jdc17327 Champion Author Pennsylvania Posts:2,560 Points:198,015 Joined:May 2009	Message Posted: Jun 4, 2012 9:21:23 PM Ignore jdc17327 Report Abuse great
Mashz Rookie Author South Dakota Posts:35 Points:58,175 Joined:Jun 2012	Message Posted: Jun 4, 2012 9:21:10 PM Ignore Mashz Report Abuse Hope the people that died for Iraq where not in the name of profit for either side~!
Lugi1967 Champion Author Ohio Posts:4,788 Points:1,002,395 Joined:Jun 2010	Message Posted: Jun 4, 2012 9:20:38 PM Ignore Lugi1967 Report Abuse It will take a while to regain any trust
theschmuck Champion Author Michigan Posts:2,922 Points:1,512,600 Joined:Mar 2007	Message Posted: Jun 4, 2012 9:19:09 PM Ignore theschmuck Report Abuse The lives that we lost there aren't forgotten.
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Jun 4, 2012 9:18:40 PM Ignore iceman11 Report Abuse Ok
svspyda Champion Author San Jose Posts:1,673 Points:339,960 Joined:May 2012	Message Posted: Jun 4, 2012 9:15:48 PM Ignore svspyda Report Abuse k