Chinese Oil Companies Apparent Victors in Post-Saddam Iraq

Chinese Oil Companies Apparent Victors in Post-Saddam Iraq

by admin@namecake.com (John Daly)

It was not supposed to be like this.After 2003’s U.S.-led Operation Iraqi Freedom, Iraq’s vast oil reserves, a monopoly under the Baathist government of deposed President Saddam Hussein, were opened to foreign investment. That optimistic assessment proved somewhat naïve however, as the country quickly descended into a prolonged power struggle between Sunni Arabs, who had dominated the Saddam administration, Shia Iraqis, the majority in the country, and northern Iraq’s Kurdish population, which had suffered years of repression. Nevertheless,…Read more...http://oilprice.com/Geopolitics/Middle-East/Chinese-Oil-Companies-Apparent-Victors-in-Post-Saddam-Iraq.html