Western Oil Firms Big Winners In IraqSubmitted by GBAmerica on Tue, 01/24/2012 - 14:32
Western Oil Firms Big Winners In Iraq
Western oil producers have emerged as the big winners of the Iraq war.
“Prior to the 2003 invasion and occupation of Iraq US and other
western oil companies were all but completely shut out of Iraq’s oil
market,” industry analyst Antonia Juhasz told Al Jazeera wire service.
“But thanks to the invasion and occupation, the companies are now back
inside Iraq and producing oil there for the first time since being
forced out of the country in 1973.”
“Western producers like BP, Exxon Mobil, and Shell are enjoying their
best access to Iraq’s southern oil fields since 1972,” Business Week
noted in its issue of March 4th of last year. (1972 was the year
Saddam Hussein nationalized Iraq’s oil fields.)