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After World War I, the oil companies carved up Iraq. Shell, BP, Exxon and Total all had stakes in the Iraq Petroleum Company. They paid pennies for each barrel of oil and built a pipeline to take it away.
In 1972 the Iraqis nationalised the industry and threw the foreigners out. From then on Western oil companies could only dream of Iraq’s oil reserves - the second largest in the world.
With Saddam Hussein came decades of war followed by sanctions and Iraq’s massive reserves lay largely untouched. But with Hussein’s regime under threat, at last there was a chance to get back in.
BBC Money Programme – The War for Oil
Complete name : The War for Oil\mp.the.war.for.oil.ws.pdtv-gore.avi
Format : AVI
Format/Info : Audio Video Interleave
Format/Family : RIFF
File size : 232 MiB
PlayTime : 28mn 59s
Bit rate : 1119 Kbps
StreamSize : 2.68 MiB
Writing application : VirtualDubMod 220.127.116.11 (build 2540/release)
Writing library : VirtualDubMod build 2540/release
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