‘Americans Appear Shut Out of Iraqi Oil Field In Favor of China’: From Iraq’s Azzaman

Iraq’s Governorate of Wasit

What some people call ‘victory in Iraq’ often looks alot more like a slap in the face.

According to this news item from Iraq’s Azzaman newspaper, the Iraqi government has decided – at Iran’s urging – to give the rights to one of Iraq’s largest oil fields to China’s state-owned oil firm, according to the article, making it ‘harder for American companies to exploit Iraqi oil.’

The article says in part:

“A source in the Oil Ministry said that the deal is worth about $3 billion and would generate $6 billion over the next ten years. The source went on to say that the cost to retrieve each barrel [from the field] would be about $6. Well-informed Iraqi sources revealed that the decision to allow China to exploit the field comes in the context of Iranian government pressure and mediation, urging Iraq to grant oil exploitation rights to Chinese and Russian companies and to deny U.S. companies access to Iraqi oil and energy.”

Translated By Jenny Oliver

September 4, 2008

Iraq – Azzaman – Original Article (Arabic)

Baghdad: An oil deal with the Chinese brokered with help of Iran will make it harder for American companies to exploit Iraqi oil. The contract, worth $3 billion, allows China to drill in the al-Ahdab oil field in Wasit Governorate.

The Iraqi council of ministers granted China oil exploration rights to the al-Ahdab field, which is near the border with Iran. The al-Ahdab field is one of the five largest strategic oil fields in Iraq. The previous regime [of Saddam Hussein] had signed an agreement with China’s National Petroleum Corporation (CNPC) to exploit the field, but a number of its conditions were never fulfilled.

A source in the Oil Ministry said that the deal is worth about $3 billion and would generate $6 billion over the next ten years. The source went on to say that the cost to retrieve each barrel [from the field] would be about $6.

READ ON AT WORLDMEETS.US, along with continuing translated Iraqi coverage of America’s involvement in that country.