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These American companies are making a fortune from the Iraqi oil boom
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Monday, October 18, 2010
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From OilPrice.com:

There is a Gold Rush underway in Iraq, with major implications for the rest of us. The success of the recent oil auctions in Iraq is creating a windfall for American oil services companies.

Schlumberger (SLB), Baker Hughes (BHI), Weatherford (WFT), and Halliburton (HAL) have committed to drilling 2,500-3,000 new wells per year and building new pipeline and shipping terminal infrastructure that could make Iraq the world’s largest oil exporter. The value of these contracts may reach a massive $60 billion over the next six years, and could generate...

Read full article...

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Topics: Iraq | Energy | Stocks
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