Final deal still far down the road
Iraq’s Oil Ministry has inked an initial agreement with Royal Dutch Shell to establish a company aimed at utilizing natural gas currently being burned off in Basra province, Ben Lando reports for United Press International.
The Heads of Agreement, as Shell officials describe it, is a preliminary legal step to an eventual joint venture with the South Gas Co., one of the state-owned oil and gas firms controlled by the Oil Ministry.
“We’ve in the very, ve…
Iraq’s Cabinet approved an initial gas agreement between the Oil Ministry and Royal Dutch Shell to invest in a joint venture to tap natural gas in southern Iraq, a government statement said.
The agreement calls for establishing a joint venture between the state-run South Oil Co. and Shell to exploit the fields, the statement added without any other details.
Shell is expected to invest US$3 billion to US$4 billion over five years to gather at least 500-600 million cubic feet of flared gas …
China says a multi-billion dollar oil deal with Iraq is still being negotiated. This contradicts reports last week from Iraqi officials, who said the deal had been signed, Daniel Schearf reports for Voice of America.
China’s Foreign Ministry on Thursday said negotiations with Baghdad to exploit an Iraqi oil field continue.
Iraq’s embassy in Beijing last week said Iraqi officials had signed a $3 billion deal with China National Petroleum Corporation.
Iraqi officials in Baghdad later con…
The Iraqi Oil Ministry says that oil exports in July inched up to 58.8 million barrels — a 0.7 percent increase from the previous month, the AP reported.
The statement says the barrel was sold at an average price of $113.8 and yielded $6.692 billion. June’s price stood at $123 a barrel.
The statement adds that 46.9 million barrels were exported through the country’s south and 11.9 million barrels from the north, from Turkey’s port of Ceyhan. The oil was uploaded by 19 international oil c…
The long-suffering bill that would govern Iraq’s oil industry and divvy up oil wealth has been stalled more than a year, bogged down in political squabbling and symbolic of problems rippling below the surface here despite success on the security front.
Just last year, U.S. and Iraqi officials repeatedly announced that passage of the oil bill was imminent. The bill was seen as crucial to laying the groundwork for long-term security and political reconciliation in Iraq, since it would guarantee…
Dana Gas, the United Arab Emirates-based oil and gas company, will start natural gas production from a gas field in northern Iraq in September and is preparing to drill appraisal wells at a second field next year, a top company executive said Thursday.
The Abu Dhabi stock market-listed firm will start production of 75 million cubic feet per day of gas from the Khoomor field in the Kurdish region under an early production facility “next month,” Finance Director Neeraj Agrawal told Zawya Dow Jo…
Oil negotiations between a handful of foreign companies and the government here appear stalled, setting back once again efforts to open up Iraqi oil fields to international companies, writes Gina Chon for The Wall Street Journal.
Oil Ministry officials had said they hoped to sign contracts by the end of June. That deadline came and went without a deal. Now, talks with major oil companies, such as Royal Dutch Shell PLC, BP PLC and Exxon Mobil Corp., appear to have hit new snags.
Iraq has term…
Energy expert Luay Jawadal-Khatteeb calls Shell’s associated gas deal “unethical,” explains why Iraq needs a gas master plan that will meet domestic needs first.
Former U.S. Ambassador to Iraq addresses the criticism he’s received for attempting to enter Iraq’s oil sector.
The former U.S. Ambassador to Iraq runs a consulting firm focused on Iraq investments and has just been named to Norwegian oil firm DNO, whose Kurdish projects have stoked controversy. He talks to Iraq Oil Report.
