News Release

Big Oil Getting Iraq Oil Deals

The lead story in the New York Times today is headlined “Deals With Iraq Are Set to Bring Oil Giants Back.” It reports: “Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power.

“Exxon Mobil, Shell, Total and BP — the original partners in the Iraq Petroleum Company — along with Chevron and a number of smaller oil companies, are in talks with Iraq’s Oil Ministry for no-bid contracts to service Iraq’s largest fields, according to ministry officials, oil company officials and an American diplomat.”

JAMES PAUL
Executive director of the Global Policy Forum, Paul has written several pieces about oil including “Oil in Iraq: The Heart of the Crisis” featured on the group’s “Oil in Iraq” web page.

Paul said today: “It’s been a long road, but the oil companies seem set to get much of what they have been seeking. The Iraqi public is overwhelmingly opposed to this privatization of Iraqi oil, just like they are overwhelmingly opposed to the so-called security pact with the U.S. What’s interesting is that the New York Times noted the historic sweep of Western oil companies in Iraq — these are the very same companies that controlled all of Iraq’s oil 80 years ago.”

For more information, contact at the Institute for Public Accuracy:
Sam Husseini, (202) 347-0020, (202) 421-6858; or David Zupan, (541) 484-9167