Word: foreigners
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...from the dollar as the world's reserve, the proposal for a "super-sovereign" coin nudged down the greenback vs. a host of major currencies. That may have been a tad more impact than Zhou was seeking: with something like two-thirds of China's roughly $2 trillion of foreign-currency reserves held in dollars, the lower a buck goes, the less China's vast pot of cash is worth...
...Even before the auction, analysts warned that Iraq's plans for attracting the investment necessary to crank up its output were overly optimistic. Iraq plans to retain ownership of its oil, but make long-term agreements with foreign companies to run the operations. But Oil Minister Hussein Shahristani demanded that oil companies lower their profit expectations, offering to pay them $2 for every barrel pumped in Iraq rather than the $4-a-barrel rate sought by oil executives. Chevron, which had negotiated for a year to develop Iraq's second-biggest field, West Qurna, pulled out of the deal...
...that the invasion of Iraq was simply an oil grab took another hit on Tuesday when Baghdad opened the bidding on the rights to develop its massive energy reserves. In a day-long auction of eight huge oil fields - some of the world's biggest - virtually all the 41 foreign companies invited to bid by the Iraqi government balked at the Baghdad terms. The only contract signed was a 20-year deal for a consortium led by BP and China's National Petroleum Corporation to develop the giant Rumaila field in southern Iraq. "Frankly I did not think it would...
...Iraq's industry has gone to seed in the decades of war and sanctions, as well as the expulsion of foreign oil companies by Saddam Hussein in 1972. But its potential remains massive, especially when compared with the dwindling reserves of the North Sea, the fact that most Middle Eastern fields are already being pumped, and that new deposits elsewhere offshore and in the Arctic are remote and expensive to develop...
...Presented with an opportunity this week to claim that foothold, however, most major oil companies were unwilling to commit. The need for military style security and expansive insurance in light of ongoing terror attacks would require foreign investors to add millions to the cost of operating in Iraq. Massive capital investment is required to develop the industry's capacity in Iraq, and militant trade unions that have flexed their muscles through strikes in recent years - and which bitterly oppose foreign oil companies taking charge of developing Iraq's fields - add to the headache facing potential investors...