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NEWS
By Shibley Telhami | February 13, 2003
U.S. MILITARY sources have warned that the Iraqi government may be planning to blow up its own oil fields in the event of war. These reports may be in part intended to explain why U.S. forces are likely to move very early to control Iraq's oilfields - at a time when many in the Middle East and around the world are suspicious that the war is mostly about oil. But there are serious reasons to be concerned that Iraqi oil fields could be put out of commission...
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NEWS
February 28, 2011
In his letter to the editor on Feb. 26, Patrick McGrady writes that he is outraged at the General Assembly's consideration of an increase in the gasoline tax from 26.5 cents to 36.5 cents per gallon, generating an additional approximately $250 million for transportation projects ( "Gas tax increase will hurt Md. families" . I feel Mr. McGrady's rage is misplaced. These additional funds will provide thousands of jobs in Maryland and help to maintain an efficient and safe transportation system, which benefits us all. Rather, his rage and the rage of all Americans should be directed at the forgotten villains, oil company profits.
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BUSINESS
By New York Times News Service | December 29, 1992
SAN FRANCISCO -- Chevron Corp. said yesterday that it expects to begin full-scale operations April 1 in its joint venture with the Republic of Kazakhstan to develop the immense Tengiz and Korolev oil fields on the northeastern Caspian Sea coast.Tengiz is regarded as one of the world's top 10 fields, with reserves likely to be as much as 35 billion barrels.After two years of often tortuous negotiations, Chevron and Kazakhstan agreed in May to a 50-50 joint venture to develop the oil fields, the largest such arrangement to date between a large republic of the Commonwealth of Independent States and a multinational oil company.
NEWS
February 24, 2011
Recent articles in your newspaper have shown the chaos, turmoil and revolutions happening in the Middle East, starting with Egypt, and spreading to other Middle East nations. The revolution in Egypt may turn for the worse as The Muslim Brotherhood has a strong probability of taking over, and this group is anti-Israel and anti-American. This, coupled with other extremist Islamic countries, poses a real danger to the USA by stopping the flow of oil to our country. With all of this turmoil happening, the gas prices are soaring at the pump along with food prices and other commodities.
NEWS
By Robert Benjamin and Robert Benjamin,Beijing Bureau | September 7, 1992
BEIJING -- China, under pressure to develop its oil productio capabilities more rapidly, is about to drop its long-standing ban on foreign oil firms working in its inland oil fields.The major policy shift may open parts of the vast Tarim Basin in China's far northwestern Xinjiang Uygur Autonomous Region to foreign exploration.The basin may be one of the world's largest untapped oil fields, and most major foreign oil companies have lusted after the chance to work there for years.Chinese petroleum officials plan soon to open oil fields in eastern China for the first time to foreign exploration and those rights may be extended much farther inland to Xinjiang, according to a report last week in the state-run English-language paper China Daily.
NEWS
By Robert O. Freedman | February 18, 2003
RUSSIA'S CALL for the continuation of the U.N. inspection system in Iraq illustrates the central principles of Russian policymaking during the Iraqi crisis - prolong it as long as possible so as to keep oil prices high while at the same time doing the minimum damage to Russian-American relations. As long as oil prices remain over $25 per barrel (the price is now about $35 a barrel) the government of President Vladimir Putin will, as a major oil exporter, have sufficient revenue to keep the Russian economy moving ahead rapidly.
BUSINESS
By New York Times News Service | July 6, 1994
Texaco Corp. announced yesterday that it would sell about half its 600 producing fields in the United States and cut 2,500 jobs as part of a broad move to reduce costs.The cutbacks, among the largest in U.S. oil operations, come after a two-year cost-cutting effort that shrank Texaco's work force by 13 percent, to 32,000 people.The jobs that will be affected are in the company's U.S. production and refining operations. The company, based in White Plains, N.Y., said the moves would result in a charge of $165 million in the second quarter.
NEWS
By Tom Bowman and Tom Bowman,SUN NATIONAL STAFF | January 25, 2003
WASHINGTON - The Pentagon suspects that Saddam Hussein will sabotage his oil fields should the United States invade Iraq, potentially creating an economic and ecological disaster that could dwarf his destruction of Kuwaiti oil fields at the close of the Persian Gulf war, a senior defense official said yesterday. As a result, the Pentagon is working on plans to quickly seize and secure the two vast oil fields in southern and northern Iraq, the official said. Special Operations forces or rapidly deployable conventional troops, such as the 82nd Airborne Division, might be used.
NEWS
By Richard H. P. Sia and Richard H. P. Sia,Sun Staff Correspondent | January 23, 1991
DHAHRAN, Saudi Arabia -- Iraq sabotaged Kuwaiti oil fields yesterday and repositioned its front-line defenses in anticipation a U.S.-led ground assault, U.S. and Arab military officials said.Iraq also continued to rain Scud missiles on Saudi Arabia, attacking this eastern city as well as the Saudi capital, Riyadh, repeatedly. The attacks included the first-ever daylight raid on this country during the war, when three Scuds were fired toward Dhahran after sunrise.As with previous attacks, all the modified Soviet-made missiles were shot down by U.S. Patriot air defense missiles or crashed into the desert or the Persian Gulf.
NEWS
By Frank D. Roylance and Frank D. Roylance,Evening Sun Staff | January 23, 1991
Cornell University astronomer Carl Sagan says Saddam Hussein's orders to torch Kuwaiti oil wells, if carried far enough, could unleash smoke clouds that would disrupt agriculture across South Asia and darken skies around the world."
NEWS
By Robert H. Nelson | February 17, 2010
P resident Barack Obama recently offered some concessions designed to improve the prospects for an energy bill this year. Notable for its absence was opening up Alaska's Arctic National Wildlife Refuge (ANWR) for oil and gas development. This is no surprise. ANWR has become a sacred symbol for the environmental movement, and any Obama overture to develop the refuge would have enraged many core environmental supporters. Yet, if Mr. Obama wants to demonstrate real commitment to "common sense" policies, ANWR is a leading opportunity.
NEWS
By Ernesto Londono and Qais Mizhe and The Washington Post | December 19, 2009
The Iraqi government condemned Friday a reported cross-border raid by Iranian soldiers who allegedly raised their flag at an Iraqi oil field near the border. "The Iraqi government considers this matter a transgression on Iraq's sovereignty," government spokesman Ali al-Dabbagh said Friday night in a television interview. Dabbagh said Iraq would deliver a formal written protest to Iran's ambassador in Baghdad. Iraqi officials said Iranian soldiers lowered an Iraqi flag at the Fakka oil field in Maysan province and hoisted an Iranian flag.
NEWS
By Doug Smith and Said Rifai and Doug Smith and Said Rifai,LOS ANGELES TIMES | July 1, 2008
BAGHDAD - Iraq's oil minister announced yesterday the start of bidding by foreign companies for contracts to boost the production of eight underperforming oil and gas fields. The contracts, to be executed in about 18 months, would open Iraq's oil fields to foreign companies for the first time since Saddam Hussein nationalized foreign concessions in the 1970s. Oil Minister Hussein Shahristani said 35 companies had been selected to bid. Among them were seven from the United States - including Chevron, Exxon Mobil, Occidental Petroleum and Conoco Phillips - and four each from China and Japan.
BUSINESS
By New York Times News Service | May 2, 2008
Exxon Mobil reported the second-best quarterly profit in its history yesterday - and investors could barely hide their disappointment. Exxon, the world's largest publicly traded oil company, said its net income rose 17 percent in the first quarter, buoyed by high oil prices. But that was less than Wall Street expected, and Exxon's shares fell 3.6 percent, to close at $89.70. Moreover, the company's report displayed fresh difficulties in its core business, with oil production dropping sharply compared with the quarter a year earlier.
NEWS
September 19, 2007
Alan Greenspan became famous when he was chairman of the Federal Reserve for being largely indecipherable, but his comment about Iraq in a new memoir could hardly have been clearer. "I'm saddened," he wrote, "that it is politically inconvenient to acknowledge what everyone knows: The Iraq war is largely about oil." Maybe that was too clear. Mr. Greenspan quickly began backpedaling in interviews after the book came out, reverting to his familiar sift-through-this-for-meaning style. Antiwar critics nevertheless treated it as a gotcha moment, while administration defenders, including Defense Secretary Robert M. Gates, poured cold water all over it. But honestly, hasn't anyone been paying attention all these years?
BUSINESS
By Andrew Leckey | August 21, 2005
Q. I own shares of Exxon Mobil Corp. Now don't get me wrong, I am pleased with them. But I wonder how long good times for the oil companies can continue. D.R., via the Internet A. Oil always will be an unpredictable commodity, which makes it difficult to accurately forecast the length of the positive cycles of these companies and their stock. High crude oil prices are responsible for their latest bull run, while the efficiency of the world's largest and most profitable oil and gas company is keeping it in the lead.
NEWS
By Doug Smith and Said Rifai and Doug Smith and Said Rifai,LOS ANGELES TIMES | July 1, 2008
BAGHDAD - Iraq's oil minister announced yesterday the start of bidding by foreign companies for contracts to boost the production of eight underperforming oil and gas fields. The contracts, to be executed in about 18 months, would open Iraq's oil fields to foreign companies for the first time since Saddam Hussein nationalized foreign concessions in the 1970s. Oil Minister Hussein Shahristani said 35 companies had been selected to bid. Among them were seven from the United States - including Chevron, Exxon Mobil, Occidental Petroleum and Conoco Phillips - and four each from China and Japan.
NEWS
By Doug Struck and Doug Struck,Sun Staff Correspondent | March 6, 1991
GREATER BURGAN OIL FIELD, Kuwait -- The dirty red satchel was packed with sandbags hard against the wellhead, its explosive contents ready to light a geyser of fire.A detonator wire sneaked away from the charge. This one was not used. Or maybe it did not work. But 800 others did.In defeat the Iraqi army created fields of fire that will affect the world's environment and economy for years. It may take two years just to extinguish the oil wells that were exploded and set ablaze, according to Kuwaiti officials.
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