Fighting For Iraqi Oil Rights
Iraqi boats have the third of estimated global reserves of oil and have been attracting more and more oil companies this year in 2009. Dutch powerhouse Shell is holding talks with Chinese state-owned oil companies to submit joint bids for multinational oil refining projects in Iraq. Both parties are seeking to expand their presence in the petroleum refining sector, and of course Iraq is the right place to fulfill their objective.
The Chinese government is already taking charge of the domestic oil business through a host of giant companies, and now they want to thrive on a global scale by gaining more assets in other countries.
Shell Executive Jeroen Van Der Veer has confirmed the joint venture between the Dutch company and its Chinese counterparts, but he is yet to reveal further details.
China is one of the pivotal industrial countries in the world, and should these projects get executed. The Tigers will have more influence and power in Asia. On the other hand, Shell, the second largest non-governmental oil company on earth, has been planning to take over rich sources in several countries in Europe and Africa to ensure its superiority in the market. So this project is not the end of the line for European giants.
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This article may be reprinted online and offline
as long as this box remains and its link is
hyperlinked online. Written by Darren Chabluk
for http://DrDinar.com/blog
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God Bless Iraq
A VERY INTERESTING ARTICLE IF THIS PLAYS OUT WE COULD SEE THE VALUE OF THE DINAR GO HIGHER THAN $,,300.00///WILLIS//
SHell knows it wants to keep petro dominance…It also knows China needs every natural resourse, especially oil….India is always in the mix…This makes Iraq a ripe territory for global political and economic grasping for it’s oil.
if you go to ; http://www.iraqdirectory.com *you will more activity in iraq
Some where in the maze of all these great developments the dinar should take fire and run up. Good article!
The Chinese and Shell Oil are interested in oil refining, how about oil drilling? I believe the U.S. has priorty in that area. Boys and girls, get ready because very soon they will double or even triple oil production.
After the long wait for the Hydro-Carbon Laws to pass in Iraq this gives them the right to start to trade on an International basis. If a country will be trading Internationally it is obvious to me that they will need their own Internationally excepted Currency. There are many Companies waiting in Armon, Jordon to do business in Iraq. As stability comes to Iraq so will World Trade and an internationally excepted Iraq Dinar.
Edward Bailey, that sounds like a good idea, to find out who is doing the refining and who is doing the drilling.
What is the Kewait dinar trading at now? I would assume that
the Iraqi’s would be on the same level.
Iraq’s currency is definately Not at the same level as Kuwait due to sanctions and war recovery. Thus, the reason for this blog…