International News
See other International News Articles
Title: (BREAKING) Iranian Forces Cross into Iraq and Sieze Oil Well (Oil Jumps to $74)
Source:
Bloomberg
URL Source: http://www.bloomberg.com/apps/news? ... 0601087&sid=asA7YDOTXZDQ&pos=8
Published: Dec 18, 2009
Author: Maher Chmaytelli and Kadhim Ajrash
Post Date: 2009-12-18 11:13:37 by Nebuchadnezzar
Keywords: None
Views: 196
Comments: 8
Dec. 18 (Bloomberg) -- Iranian forces yesterday entered Iraqi territory at dawn and occupied well number 4 in the East Maysan oil field, Border Guard General Zafer Nazmi said. The Iranian forces positioned tanks around the well, which is in the al-Fakah region, 450 kilometers (280 miles) south of Baghdad. The two neighbors have disputed the border of southeast Iraq for decades. “They positioned tanks around it and dug trenches,” General Nazmi said by phone from Basra. “They are still there, they raised the flag.” East Maysan in southern Iraq is an old oil field that is no longer in production, according to Nazmi. Iraq is the third largest oil producer in the Middle East after Saudi Arabia and Iran. Energy analysts and traders were surprised at the news, which comes days before Iran and Iraq meet fellow members of the Organization of Petroleum Exporting Countries at a Dec. 22 meeting in Luanda, Angola. Crude oil for January delivery rose as much as $2.04, or 2.8 percent, to $74.69 a barrel on the New York Mercantile Exchange. It traded at $74.58 a barrel at 2:19 p.m. London time. Iran and Iraq waged an eight-year war that ended in 1988, with much of the fighting along the border between southern Iraq and Iran. Iraq has this year signed contracts with several foreign companies to develop its oil fields to revive production. OPEC Meeting “From a geopolitical perspective it is a surprising development in terms of timing, considering the upcoming OPEC meeting,” said Harry Tchilinguirian, senior oil analyst with BNP Paribas SA in London. “If verified, the incursion only goes to highlight the still very uncertain conditions on the ground in Iraq that have been impeding the recovery of the country’s oil sector,” Tchilinguirian said. Iraq’s National Security Council will hold a meeting to discuss the situation, state-run television al-Iraqiya said. Iraq’s al-Hurra television station also reported that Iranian forces crossed the border into Iraq, citing the U.S. army saying the incident was not violent. Baghdad-based government spokesman Ali al-Dabbagh didn’t immediately respond to e-mails and mobile telephone calls seeking comment. Calls to Iran’s presidential office, Foreign Ministry and Ministry of Defense were not answered. Friday is the weekend in Iran. A spokesman for the Iranian embassy in London declined to comment. To contact the reporters on this story: Maher Chmaytelli in Dubai at mchmaytelli@bloomberg.netKadhim Ajrash in Baghdad through the Dubai newsroom or mchmaytelli@bloomberg.net
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Nebuchadnezzar (#0)
Meanwhile, CIC Barry babbles about giving away 10 billion in Copenhagen.
The Iranians are just asking to get blasted... Yet we refuse to support those who are in open rebellion against the mullahs and their current regime.. Naturally the mullahs will "draft" those students and freedom fighters first and put them out front as shock troops to protect the troops loyal to the mullah and their expensive tanks Exactly as they did in the last Iranian-Iraqi war Natually the USA got practically no oil leases from Iran...the Russians,Chi-Coms and Euroweenies got the lion's share.. No blood for oil...no oil for USA period So who is going to rush in and save the day...the Chi-coms...the Rooskies.. or the Euroweenies? Obama the war chief? This shiite gets better by the hour
Barry babbbles on about "Goebble warming" the wind howls the snow falls even deeper and the temps fall with more snow predicted...
This has happened before, why should America start a war over an Iranian-Iraqi dispute? why are you so eager to send America into a trillion dollar war that has nothing to do with it's security?
Stand Up, Men of the West!!! http://www.youtube.com/watch?v=9GgSdiX0kDI
Make that 100 Billion PER YEAR!
My bad, but with trillion plus budgets, trillion plus stimuli, looting billions here, sending billions there, pretty soon all those zeroes start running together.
Don't worry, the messiah "king" obammy is going to talk them to death. Or try to bribe them with YOUR money.
Esse Quam Videri.
#2. To: Happy Quanzaa (#1)
#3. To: Nebuchadnezzar (#0)
#4. To: Happy Quanzaa (#1)
#5. To: Nebuchadnezzar (#0)
Clashes between the two countries over disputed oil fields near the border have occurred previously and “the lack of a formally demarcated border between the two countries has been the cause,” Stratfor, an Austin, Texas-based intelligence- consulting group, said in an e-mailed statement.
#6. To: Happy Quanzaa (#1)
10 billion in Copenhagen.
#7. To: borntoweardiamonds (#6)
Make that 100 Billion PER YEAR!
#8. To: Joe Snuffy (#3)
Top • Page Up • Full Thread • Page Down • Bottom/Latest
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]