Iraq, Oil, and a Break for Chevron

Peter Zeihan 5 min

American oil interests moving into Iraq were thin. Chevron is in the first position to enter negotiations.

Chapters

  1. 0:00

    Historical Context of US Oil in Iraq

    American oil interests moving into Iraq were thin.

  2. 1:15

    The Sanctions on Lukoil and Chevron's Opportunity

    They have entered into negotiations with America's Chevron to take over the project.

  3. 2:45

    Geopolitical and Technical Advantages for Chevron

    Chevron has no assets in Iraqi Kurdistan.

  4. 4:20

    Strategic Shift for the US Energy Sector

    This is one of those situations where they might actually have a significant leg up.

Key points

  • 0:00

    American oil interests moving into Iraq were thin.

  • 0:00

    The Iraqi government post-Saddam was wildly disorganized and sharply sectarian.

  • 1:15

    LukOil managed the West Kurna II field before sanctions.

  • 1:15

    Sanctions prevented LukOil from tapping U.S. dollar markets.

  • 1:15

    The Iraqi government nationalized the West Kurna II field.

  • 1:15

    Chevron is in the first position to enter negotiations.

  • 1:15

    West Kurna II production could expand to over a million barrels a day.

  • 2:45

    Chevron has no assets in Iraqi Kurdistan.

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