BOT Nomination's Vessels to Load Basrah Light Crude Oil for the Second Half of April / 2008. BOT = Basrah Oil Teminal ( Previously Minaa’ Al Baker) QTY = Quantity, TBN = To be notified ,
Please note that the quantities are multiplied by 1000, hence for the first ship the quantity is One Million Barrels of Basrah Light Crude Oil.
Please watch the quantity of oil going to the USA marked in RED, of 16 Ships, 8 are going to the USA, with total quantity of 16,000,000 Million Barrels of Basrah Light Crude.
This is excluding the 700,000 Barrels per day going through the port of Ceyghan of Turkey ( To Europe & America). Simple calculation will provide an accurate number of the total quantity exported from this port alone.!!!!! Europe and America.
Based on the latest confirmation from SOMO (Southern Oil Marketing Organization) which is an Iraqi company based in the south of Iraq, The total price paid by the bulk buyers for each Barrel of Iraqi Crude Oil is US$ 34.50 (Thirty Four Fifty Only), this price has been in place since the occupation of Iraq and based on a signed contract with the first Iraqi government (The government of Mr. Allawi). All Oil Exports from Iraq is Based on this pricing system and the buyers (in Bulk) are American Based company's, hence any interested (Small Quantity) buyers have to buy through the American Firms ( From America – Delivery Iraq ) based on daily Price Range, Now considering the actual price of Each Barrel of Oil in today's Market (US$ 116), the difference is huge and thus, I will leave you to reflect on this.
This is added by the forcing of the New Oil Law in Iraq, which is structured on PRODUCTION SHARING AGREEMENT, the oil law will mainly be implemented on all Oil fields, most probably 60-40 for the Americans, Iraqis rejoice and be proud that you are feeding the Americans!!!!!!!!!!!!!!!!!!!!!
The significant part of this list is that it won’t include the companies who are involved in the exploration of oil fields in Kurdistan. I’m not sure of the long term implications but it can benefit in building the infrastructure, train local labourers, and input some capital into the economy. As things stand the Iraqi people are not benefiting from their oil revenue. The question is this…how long do these agreements last for and what are the terms involved?
quote:
Iraq qualifies 35 companies for oil deals
WASHINGTON, April 14 (UPI) -- Iraq's Oil Ministry has approved 35 companies it will allow to bid for soon-to-be announced tenders to develop oil and gas fields. The largest oil companies in the world -- ExxonMobil, Shell, BP, Conoco Phillips, Chevron -- all qualified, as did firms of a variety of sizes and nationalities. The announcement Monday on the ministry's Web site is a major move that could bring foreign oil companies en masse into Iraq since the third-largest oil sector in the world was nationalized three decades ago.
It takes place as the ministry attempts to increase oil and gas production as a new law to govern the sector remains in dispute between the central and Kurdistan regional governments. The announcement said of the 120 companies or consortia that applied, 35 met the minimum criteria and "can then participate in the coming Licensing Round for planned Oil and Gas Fields which will be announced in due time when they will receive a Letter of Invitation from Petroleum Contracts and Licensing Directorate to this effect."
Those that didn't qualify this time will be able to update their applications for future bidding rounds.
Iraq's Oil Ministry will not unveil the list of oil and gas fields that will be put to tender. Iraq wants to increase production from the current 2.4 million barrels per day to 6 million bpd in the short term. Its plan is to increase production of currently flowing fields and develop those fields discovered but not producing. There is not expected to be any exploration blocks included in the tender.
The Kurdistan Regional Government interprets the constitution as a mechanism to decentralize the oil sector, allowing provinces and regions producing oil some level of autonomy, while many in government believe the central government should hold the oil strategy portfolio.
The KRG passed its own oil law and has signed dozens of exploration and production deals with foreign oil firms. None of the companies that signed with the Kurds qualified for the ministry's bidding round -- though many didn't bother to apply -- as Baghdad made good on its promise to blacklist those firms.
Just going further into my previous post on Iraqi Crude exports;
1- from the North Of Iraq and through Turkey : 700,000 BBL per day , that is 21,000,000 BBL per month , and considering the price of US$ 110 per BBL, the total would be ; US$ 2,310,000,000 ( that is in one month) , for a year it will be US$ 27,720,000,000. ( Twenty seven Billion and Seven Hundred and twenty Million US$)
2- Considering Basrah Oil Terminal (ONLY), as could be seen from the list during half of April only, Basrah Oil Terminal exported 26,000,000 BBL, for a full calendar month 52,000,000BBL per month, for a year roughly the oil teminal would be exporting 624,000,000 BBL, which in other words would be US$ 68,640,000,000. 3- Summing both figures ; US$68,640,000,000 4- Summing up based on the signed contract 5- Please note that this figure will not include Fuel Oil export from other ports like; (Khor Al Zubair – Khor Al 3omaiah – Mina Abu Floos and the smuggled quantities)
In a meeting with Iraqis in London, Saeed Aziz Al Hakim announced that 2008 budget would be around Forty Billion US Dolor, and my question is ;
WHERE IS THE OTHER TWENTY EIGHT BILLION DOLOERS ? If the Iraqi government spends 1 Billion for every Million of people in one year Time, we would be Kings, wallah.
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