Weather | Traffic | Surf | Maps | Webcam


   
 
Forums Visitors Guide Shopping Classifieds Autos Homes Jobs Entertainment Sports Today's Paper Home

 News
 Metro | Latest News
 North County
 Temecula/Riverside
 Tijuana/Border
 California
 Nation
 Mexico
 World
 Obituaries
 Today's Paper
 AP Headlines
 Business
 Technology
 Biotech
 Markets
 In Depth
 Iraq / Afghanistan
 Pension Crisis
 Special Reports
 Video
 Multimedia
 Photo Galleries
 Topics
 Education
 Features
 Health | Fitness
 Military
 Politics
 Science
 Solutions
 Opinion
 Columnists
 Steve Breen
 Forums
 Weblogs
 Communities
 U-T South County
 U-T East County
 Solutions
 Calendar
 Just Fix It
 Services
 Weather
 Traffic
 Surf Report
 Archives
 E-mail Newsletters
 Wireless | RSS
 Noticias en Enlace
 Internet Access

 Sponsored Links

U.S. oil company says it has ended talks with Iraq


ASSOCIATED PRESS

2:50 p.m. August 13, 2008

BAGHDAD – A major independent U.S. oil producer said Wednesday that it has ended negotiations with Iraq to develop an oil field.

A spokeswoman for Anadarko Petroleum Corp., Paula Beasley, gave no reason for the decision but said in an e-mail to The Associated Press that “we do not intend to pursue additional interests at this time.”

The company, based in the Houston suburb of The Woodlands, has a memorandum of understanding with the Iraqi government under which it has provided free technical advice, Beasley added.

Anadarko, the leader of a consortium that included Vitol Holding and the United Arab Emirates' Dome International, was negotiating a no-bid Technical Support Agreement, or TSC, to develop the Luhais oil field in southern Iraq.

The Iraqi Oil Ministry refused to comment on the company's decision.

Iraq's Oil Ministry has been negotiating with oil majors for two-year service contracts to develop several major oil fields in southern and northern Iraq.

But the contracts sparked a backlash over concerns that granting such contracts to Western oil companies could feed perceptions that U.S.-led forces toppled Saddam Hussein to seize Iraq's vast oil reserves.

Last month, the ministry said it had limited the no-bid contracts to one year to avoid overlap with longer-term deals expected to be signed next June. Five of the oil fields up for longer-term development are also included in the no-bid contracts under negotiation.

They are Rumaila, Zubair, West Qurna 1, Maysan and Kirkuk.

In addition to Anadarko, Iraqi officials have said that the government is negotiating short-term technical-service contracts with Royal Dutch Shell PLC, BP PLC, Exxon Mobil Corp., Chevron Corp. and Total SA to boost oil production by 500,000 barrels per day by the end of this year.

In an e-mailed response to AP, both Chevron and BP confirmed that negotiations were still ongoing with the Iraqi Oil Ministry, but released no details. Others didn't respond.

“Our discussions with the government of Iraq remain confidential and we are unable to comment at this point in time,” said BP spokesman Fares Ghneim.

Iraq is now producing about 2.5 million barrels of oil per day, its highest rate since the U.S.-led invasion in 2003. The government hopes to produce 4.5 million barrels per day by 2013.

Iraq has more than 115 billion barrels of oil in its reserves, but its oil industry has been battered by years of war and U.N. sanctions.


 Sponsored Links







Quicklinks
Restaurants Bars
Hotels Autos
Shopping Health
Eldercare Singles
Business Listings
Free Newsletters


Guides
Vegas Spas/Salon
Travel Weddings
Wine Old Town
Baja Catering
Casino Home Imp.
Golf SD North
Gaslamp


© Copyright 1995-2008 Union-Tribune Publishing Co. • A Copley Newspaper Site