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Oil

Essay by 24  •  October 28, 2010  •  358 Words (2 Pages)  •  716 Views

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It is easy to see why DWI would like to consider Iraqi oil reserves for its exploration, drilling, refining, and transport. Iraq has become a popular country for there oil. Over the past decade since the 1991 Gulf War, many companies from over 12 countries have been signing deals to develop the Iraqi oil reserves, as part of the limited United Nations "Oil-for-Food" program. Many of these companies were from Russia and France, and both countries keep their Iraqi oil concessions for financial reasons. (ABC News)

More than a fourth of Iraqis surveyed described themselves as being poor and 96 percent said they receive monthly food rations under the public food system set up through the "Oil-for-Food" program. The median income in Iraq was equivalent to about $255 (366,000 dinars) in 2003 and decreased in the first half of 2004 to about $144 (207,000 dinars). (Report paints grim picture of Iraqi life) This could be a little misleading for some. You may see numbers like this and feel investing some new business could be very helpful, yet many security issues are a major factor.

Security continues to be the number one concern of the Iraqi Government and the international business community. The security situation in Iraq remains serious. Theft and violent crime persist in Iraq, and the potential for attacks against U.S. citizens and facilities remains high. Roads and other public areas can be dangerous for conspicuous foreign travelers. Law enforcement is limited, although Iraqi police units continue to be trained and deployed. (Oil connections)

DWI's current oil division is successful with Siberia, and South China Sea. At this time I feel that more research and time should be considered before investing too much money and personal into the Oil of Iraq. DWI would not want the loss of employees on their record by having them in a country that is at this time still unstable and unsafe for

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