I apologize for the confusion - I knew that there is massive US involvement in Kuwait oil industry, but it was incorrect to say US oil corporations "run" Kuwaiti oil.
I know Kuwait has nationalised their oil industry, but there is a significant US presence.
Following the nationalisation of the oil industry in 1975, foreign companies were not permitted to operate in either the upstream or downstream sector oil sector (apart from the neutral zone). After the Gulf War, however, the government started to negotiate service contracts for the provision of technical assistance in exploration-production operations.
tradepartners.gov.uk
I see you are playing down the "involvement" in question, which is mostly concessions and service contracts, but I remember they were very significant. I would love to have a bit of time to look into the size of these contracts for each of the companies mentioned in the link I pasted:
virginia.edu
Do you remember a contract awarded to a relatively small US company called Fluor (or something) in Kuwait mid-December re cleaning up some facilities after an explosion? It was worth over USD 230 mn...
That was not one of the companies below. So USD 200 mn is not "major involvement", you see...
Major Foreign Oil Company Involvement:
British Petroleum
Chevron
Getty Oil Co.
Japan's Arabian Oil Co. (AOC)
Gulf Oil
Mobil Corp.
Royal Dutch/Shell,
Shell International Petroleum Co. Ltd.
Texaco
virginia.edu
So, again, while it is true that US companies do not "run" Kuwait oil industry, they are extremely influential. Ask yourself why there are no French, Russian, etc oil companies in the list above. US firms have preferential treatment in the contracts awarded (which is quite normal, following their efforts during Iraqi invasion) and are quite influential.
Also in relation to your point that "Sooner or later they probably will contract with foreign companies for exploration and development":
KUWAIT CITY (AP) _ Kuwait's state-run oil industry expects to ask as many as five foreign companies _ two of them American _ to help form a consortium for producing crude, giving foreigners their first opportunity since 1975 to participate in the emirate's No. 1 business.
forbes.com |
