Published 09 February, 2010,
Russia's largest private oil company, Lukoil, has told RT it can make a profit from its huge investment in Iraq.
The head of the firm's overseas operations, Andrey Kuzyaev, admitted that these days they must take risks to make a profit. West Qurna contains the world's second largest known oil reserves. In December Lukoil and Norway's Statoil won the right to develop stage 2 of the project. The companies will earn only $1.15 a barrel under their contract with Iraq's oil ministry, but Kuzyaev says the $30 billion investment is worth it.
Deposits in Iraq are incomparable with those in any part of the glove. Developing the worlds largest hydrocarbon fields stimulates technology and supports contractors with Russian companies among them.
Oil and Gas Market ,Opec Oil and Gas market prices Saudi Arabia Aramco Shell BP Petroleum ELF ,brent , crude NIMEX Gulf Emirates Kuwait Iraq Iran UAE Angola Russia cartel
Tuesday, February 9, 2010
Monday, February 8, 2010
Connecticut Plant Blast Sounded Like Sonic Boom
Conn. Plant Blast Sounded Like Sonic Boom
An explosion that sounded like a sonic boom blew out walls of an unfinished power plant and set off a fire during a test of natural gas lines Sunday, killing at least five workers and injuring a dozen or more.
Great Opportunities in China Energy Stocks
NEW YORK -- Stephanie Link, Director of Research for Action Alerts Plus, explains why she is such a fan of CNOOC, where she expects growth to come from and how she recommends playing the stock.
Great Opportunities in China Energy Stocks
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