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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (56056)	12/4/1999 10:24:00 PM
From: Think4Yourself	Respond to of 95453

I thought Russia was an exporter as well (but not major), but thought I read in a Bloomberg article last week that they have been buying Iraqi crude. Perhaps satellite countries? Anyways, while trying to find the article, I came accross this interesting tidbit from a Feb 1998 article: As a reward for supporting Saddam in the Gulf War, Iraq sells 600 million dollars worth of oil to Jordan each year for less than 300 million dollars. And what Jordan does pay for is bartered for Jordanian goods, an arrangement that allows the cash-strapped kingdom to save crucial foreign currency reserves. Without Iraqi oil supplies, Jordan would be forced to go knocking on the doors of Gulf Arab states. Still angry over Jordan's support for Saddam, they are unlikely to cut such a generous deal. The kingdom's only other alternative would be to tap expensive sources further away.