Russia Oil Company Say's 'Not So Fast there Smirky'

Step back slowy away from the oil fields...

You ain't the only one with an interest in the Iraqi People's OIL!

ewing2001 writes

Wednesday, Apr. 9, 2003. Page 5

LUKoil Says It Will Sue If It Loses West Qurna Reuters

"...LUKoil said Tuesday it would block Iraq's huge West Qurna oil field development for many years if any U.S. or British firm decided to challenge its leading role in the project.

LUKoil vice president Leonid Fedun told Kommersant business daily that the firm would sue any new contender for the field for at least $20 billion and ask international courts to arrest tankers with Iraqi crude oil.

"Nobody can develop this field without us in the next eight years. If somebody decides to squeeze LUKoil out, we are going to appeal in the Geneva arbitration court, which will immediately arrest this field," Fedun said.

"This type of trial can last for about six or eight years. ... We are going to arrest tankers with crude produced in Iraq using the Geneva court," he added.

Oil analysts have said that ChevronTexaco, ExxonMobil and ConocoPhillips of the United States are likely to compete with Anglo-Dutch Shell Group, Britain's BP and TotalFinaElf of France for major production contracts should postwar Iraq privatize its oil industry..."

http://www.themoscowtimes.com/stories/2003/04/09/0 42.html

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printed from Russia Oil Company Say's 'Not So Fast there Smirky' on 2004-06-23 00:20:28