Disclaimer: This site has been first put up 15 years ago. Since then I would probably do a couple things differently, but because I've noticed this site had been linked from news outlets, PhD theses and peer rewieved papers and because I really hate the concept of "digital dark age" I've decided to put it back up. There's no chance it can produce any harm now.
| Identifier: | 03ABUDHABI1088 |
|---|---|
| Wikileaks: | View 03ABUDHABI1088 at Wikileaks.org |
| Origin: | Embassy Abu Dhabi |
| Created: | 2003-03-05 13:58:00 |
| Classification: | CONFIDENTIAL |
| Tags: | EPET PGOV BEXP ENRG ECON EINV TC |
| Redacted: | This cable was not redacted by Wikileaks. |
null
Diana T Fritz 05/24/2007 04:56:23 PM From DB/Inbox: Search Results
Cable
Text:
CONFIDENTIAL
SIPDIS
TELEGRAM March 05, 2003
To: No Action Addressee
Action: Unknown
From: AMEMBASSY ABU DHABI (ABU DHABI 1088 - ROUTINE)
TAGS: EPET, PGOV, BEXP, ENRG, ECON, EINV
Captions: None
Subject: UAE OIL OFFICIAL'S VIEWS ON IRAQ AND THE OIL MARKET
Ref: None
_________________________________________________________________
C O N F I D E N T I A L ABU DHABI 01088
SIPDIS
CXABU:
ACTION: ECON
INFO: P/M AMB DCM POL
Laser1:
INFO: FCS
DISSEMINATION: ECON
CHARGE: PROG
APPROVED: DCM: RALBRIGHT
DRAFTED: ECON:CCRUMPLER
CLEARED: ECON: TWILLIAMS
VZCZCADI685
RR RUEHC RUEHHH RUEHDE RUCPDOC RHEBAAA
DE RUEHAD #1088 0641358
ZNY CCCCC ZZH
R 051358Z MAR 03
FM AMEMBASSY ABU DHABI
TO RUEHC/SECSTATE WASHDC 8704
INFO RUEHHH/OPEC COLLECTIVE
RUEHDE/AMCONSUL DUBAI 2844
RUCPDOC/USDOC WASHDC
RHEBAAA/USDOE WASHDC
C O N F I D E N T I A L ABU DHABI 001088 SIPDIS DEPT FOR NEA/RA, NEA/ARP, INR/EC, EB/IEP, EB/CBA USDOE FOR INT'L AFFAIRS OBURN, ALSO CALIENDO USDOE FOR OFFICE OF THE SECRETARY HONDA HUDOME USDOC FOR 1000/OC/ USDOC FOR 4520/ITA/IEP/ONE USDOC FOR 4530/ITA/MAC/ONE/DGUGLIELMI 4500/ITA/MAC/DAS/WILLIAMSON 3131/CS/OIO/ANESA E.O. 12958: DECL 03/05/08 TAGS: EPET, PGOV, BEXP, ENRG, ECON, EINV, TC SUBJECT: UAE OIL OFFICIAL'S VIEWS ON IRAQ AND THE OIL MARKET 1. (U) Classified by DCM Richard Albright, for reasons 1.5 (B) and (D). 2. (C) The Abu Dhabi National Oil Company's (ADNOC) Deputy CEO, Abdullah Bin Nasser Al-Suwaidi does not believe that the oil market would collapse following a military conflict with Iraq and removal of Saddam Hussein from power. In a March 3 meeting with Econchief and Econoff, Al-Suwaidi posited that oil prices would likely soften a bit -- to the $18-20 range -- if Iraq produced at full capacity, but would not drop significantly beyond that. (Note: Others in the UAE government, including senior officials at the mammoth Abu Dhabi Investment Authority, which makes the Emirates overseas portfolio investments, have privately expressed a concern that a drastic drop in oil prices is inevitable, down to possibly $8 a barrel.) Al-Suwaidi elaborated that prices are artificially high right now, and that he recently signed contracts for the next two months fixing the UAE's signature 'Murban' crude at $34 per barrel. 3. (C) Al-Suwaidi does not believe that Iraq's oil production will increase substantially in the short term, and -- although cheap to produce -- Iraqi oil fields will require billions of dollars in investment and several years to realize their full potential. He intimated that the Kirkuk and Basra fields, in particular, are in poor condition, having been producing for decades. He also suggested that Iraq's claimed reserves may be overstated; in any case, he doubted that there are any large, undiscovered deposits of oil in Iraq. Wahba
Latest source of this page is cablebrowser-2, released 2011-10-04