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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (58639)	11/24/2002 6:00:59 PM
From: quehubo	Read Replies (1) \| Respond to of 281500

Lindy: Many of the same questions will be asked in Iraq, this is why production capabilities will likely not change quickly. Sure we can eliminate Saddam & Co., but how long will it take to offer a stable long term environment post US military control? How long have the Saudi's been negotiating with US major oil companies for gas development projects only to end up far apart. Investors will want a good return and a stable local government before they pump in the billions required in Iraq.

To: LindyBill who wrote (58639)	11/25/2002 8:02:10 AM
From: John Carragher	Respond to of 281500

update on investments going into Russia etc. from exxonmobil. ExxonMobil To Spend $100 Billion On 100 Projects During Decade Wednesday November 6, 10:21 am ET IRVING, Texas -(Dow Jones)- Exxon Mobil Corp. (NYSE:XOM - News) , which is on track to spend $10 billion on capital projects this year, expects to spend $100 billion on about 100 projects in the next 10 years. In a press release Wednesday, the oil company said the expected projects in West Africa, the Middle East, the Caspian and Russia will comprise 40% of its production by 2010, up from the current level of 15%. Production in the Americas, the Asia Pacific region and Europe is anticipated to remain about flat, as new projects and ongoing aggressive work programs add new production volumes. Exxon, which reported a 17% decline in third-quarter earnings from last year on continued weakness in refining and marketing, said these capital efforts will allow it to achieve an expected average of 3% per year growth in production capacity from 2000 well into the decade.