Posts Tagged by Royal Dutch Shell
After Gas, Iraq Has Big Petrochemical Plans
| May 15, 2012 | Filled under Iraq Daily News |
Baghdad, Iraq plans to build on its nascent gas sector to power a new petrochemicals industry, looking to foreign firms to invest $35-50 billion from 2017-2023. Mohammed Abdullah, a deputy minister with responsibility for companies, said the ambitious plan was to produce 10 million tonnes of petrochemicals a year during that period. “The amount of investments which we could…
Basra Leaders Threaten Lawsuit
| November 27, 2011 | Filled under Iraq Daily News |
The Basra Provincial Council voted to file a lawsuit challenging the imminent, multi-billion-dollar joint venture between the Iraqi Oil Ministry, Royal Dutch Shell and Mitsubishi. Officials said they wanted more local involvement in the contracting process, particularly in determining compensation policies. It is one of several key demands that delayed the deal’s approval for more than three years, following…
Basra Preparing to Sue the Ministry of Oil Gas Company Background Without Coordination With Basra’s Governorate Council
| November 27, 2011 | Filled under Iraq Daily News |
Sumerian news/Basrah Basra Governorate Council, confirmed that he intended to sue the Ministry of oil, which accused it of ignoring his powers and lack of coordination with him, on the establishment of the Basra gas company, without objecting to the founding of the company. He said the Chairman of the Committee on oil and gas Conservation Board, Khalid said…
Shell Pulls Out of Kurdistan Oil Talks – Report
| November 19, 2011 | Filled under Iraq Daily News |
LONDON, Royal Dutch Shell Plc has pulled out of oil-development talks with the Kurdistan regional government in an effort to protect lucrative investments in southern Iraq, the Financial Times reported. The newspaper cited people familiar with the discussions as saying Baghdad is seeking to impose a de facto ban on companies operating in Kurdistan, a semi-autonomous region in northern Iraq.…
Shell: 54,600 Gallons of Oil Spilled in North Sea
| August 17, 2011 | Filled under Featured Article |
LONDON: Royal Dutch Shell estimated Monday that 54,600 gallons of oil have spilled into the North Sea from an oil rig off Scotland’s eastern coast. The Gannet Alpha oil rig, located 180 km east of the city of Aberdeen, is operated by Shell and co-owned by Shell and Esso, a subsidiary of Exxon Mobil. Glen Cayley, technical director of…
Shell Iraq JV Sales Formula Prices Gas Above $4
| August 12, 2011 | Filled under Featured Article |
Shell’s Basra Gas Company (BGC) joint venture is to sell dry gas from Iraq’s southern oilfields to state-run South Gas Company (SGC) at a fuel oil-linked price comparable to current US prices. SGC will sell it locally at a fraction of the cost, an official agreement summary obtained by Reuters shows. After lengthy pricing discussions, the final draft deal…
Iraq Inks Deal to Capture Gas at Oil Fields
| July 13, 2011 | Filled under Iraq Daily News |
Iraq has signed a USD12 billion draft agreement with Royal Dutch Shell and Mitsubishi oil companies to capture gas at the Middle Eastern country’s southern oil fields. Iraq’s oil ministry said in a statement that the final draft agreement was signed on Tuesday, adding that the deal still needs the approval of the cabinet, Reuters reported. The new draft…
Iraq Likely to Delay Gas Fields Auction
| July 31, 2010 | Filled under Uncategorized |
Reuters – Iraq is considering postponing an auction for companies who want to develop its gas fields to give them more time, its oil ministry said. The ministry will hold a workshop in Istanbul on August 1-2 to discuss details of the gas bidding round and contract terms with interested bidders. Baghdad had said it will invite all 45 international companies,…
The ministry will hold a workshop in Istanbul on August 1-2 to discuss details of the gas bidding round and contract terms with interested bidders.
Baghdad had said it will invite all 45 international companies, who were prequalified in the two oil auctions last year, to bid to develop three gas fields and the auction was to have taken place on September 1.
“It’s unlikely it will be at that time (September 1), to allow more time for… the companies,” oil ministry spokesman Asim Jihad told Reuters. “I think there will be an extension for the period… It could be by the end of October or start of November, until now the date has not been agreed upon.” The fields on offer are Akkas in the western desert, Siba in the southern hub of Basra and Mansuriyah in eastern Iraq.
Kyle McEneaney, head of Ergo’s Middle East practice, an Iraq-focused research firm, said despite interest in Iraq’s gas reserves, there was some uncertainty regarding the auction. “Discussions in Istanbul should help Iraq to calibrate the contract terms and set a new auction date; if these things happen, there will be more concrete interest. If not, expect more delays,” he said.
“The delay in forming a government has given investors in many sectors pause. Progress on this front will be positive generally for interest in gas projects; of course, it will be even more positive if the terms established in Istanbul are not roundly rejected in Baghdad.”
Iraq has no new government since a March election produced no outright winner.
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