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

To: SliderOnTheBlack who wrote (33097)	12/18/1998 8:37:00 AM
From: Fitz	Read Replies (1) \| Respond to of 95453

Iraq Am I the only one here that believes there are only two ways to stop Saddam........ 1. Take him out with a sniper........or 2. Take out all of his oil well........after all it is his only source of income....... Comments???????, Fitz

To: SliderOnTheBlack who wrote (33097)	12/18/1998 11:29:00 AM
From: jbe	Read Replies (1) \| Respond to of 95453

Speaking of International Big Oil, here is a rather interesting article from the Dec. 14 U.S. News & World Report. (Don't have the URL, since I got it from a listserv to which I subscribe." Looking for oil in lots of strange places By Kevin Whitelaw HIGHLIGHT: Petropolitics To understand the political motivations behind the mammoth Exxon-Mobil merger, it helps to know a bit of history about places like Azerbaijan. This oil-rich Caspian nation emerged from Soviet rule in 1991 squeezed between a resentful Russia and a hostile and bristling Iran. Oil firms rushed in to plumb the reserves of the war-torn former republic. But they soon found themselves buffeted by swirling political winds. To avoid having Azerbaijan's oil pumped through Iran or Russia, Washington is pushing for a far more expensive pipeline from the Azerbaijani capital of Baku to the Mediterranean port of Ceyhan, Turkey. That doesn't thrill U.S. oil companies. But in complicated places like the Caspian Sea region, the companies' interests often take a back seat to U.S. strategic objectives. With its newfound heft as the world's largest company, Exxon Mobil will hope to better withstand government pressure. At the same time, the company is also likely to find greater competitive advantages in bidding for new oil exploration deals. "There will be a big opportunity on the playing field to be the big U.S. company," says Amy Jaffe, an energy expert at the James A. Baker III Institute for Public Policy at Rice University. "Many countries are looking for an oil company that will bring the attention of the government where it is based." Out of Africa. That's especially so in Africa, where the oil is more accessible and easier to export than in the Caspian. Just this year, Exxon has struck oil in three consecutive drilling operations in Angola. Exxon is also proceeding with a $ 3.5 billion exploration project in Chad, but it is struggling to balance the demands of human rights activists, environmentalists, and the World Bank. The U.S. government could help Exxon Mobil resolve conflicts like those, and there are signs it is finally becoming engaged. Next week, the State Department is sponsoring its first conference on African oil prospects with industry representatives. The event is attracting high-level participation, thanks in part to the Clinton administration's desire to promote American interests in Africa. As exploration continues to proceed in far-flung oil patches like Africa and the Caspian, petroleum companies are also turning their attention back to Persian Gulf oil nations, which are suffering from low oil prices and beginning to consider new exploration deals. This region remains attractive because extraction and transportation costs are low. In October, the Saudi government surprised the oil world by suggesting it would be open to exploring oil-development projects with foreign--and, in particular, American--oil companies. As the world's largest oil company, Exxon Mobil would be the natural choice for the first of any such joint ventures.