Iraq wants U.S. gas investment as part of new energy-independence projects
He announced that Iraq will offer 10 gas exploration block to U.S. firms during a visit to the United States by Oil Minister Hayan Abdul-Ghani. Baghdad is trying to bring U.S. investors into its energy sector after previous rounds of licensing where Chinese firms dominated the available fields. Iraqi state-run media announced that the 10 gas blocks left unclaimed after six licensing rounds will be offered in a fresh bidding round.
Iraq in Deal with Schlumberger to Drill in Majnoon
Iraq has agreed a deal with U.S.
ADES Acquires 12 Rigs From Weatherford In Kuwait
Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for $ 123 million.The oil & gas drilling and production services provider in the Middle East and North Africa (MENA) said in a press release that the transaction forms part of the previously signed definitive agreement with a subsidiary of Weatherford to acquire thirty-one onshore drilling rigs for a total consideration of $287.5 million across Kuwait…
Kuwait Energy Starts Producing Natural Gas in Southern Iraq
Kuwait Energy PLC <IPO-KEC.L> started producing natural gas from Siba on Wednesday, the first gas field to be brought on stream in the south of Iraq, an Iraqi oil executive told Reuters.Siba began producing gas at an initial rate of 25 million cubic feet a day (mcf/d), which should rise gradually to 100 mcf/d by the end of the year, said Kareem Abd Oda, the director…
Iraq's Southern Oil Exports Fall in March
Oil exports from southern Iraq have fallen by 70,000 barrels per day (bpd) this month, according to shipping data and an industry source, suggesting OPEC's second-largest producer is heading for a third month of lower shipments. Southern Iraqi exports in the first 21 days of March averaged about 3.36 million bpd, compared to 3.43 million bpd in February, shipping data followed by Reuters and independent tracking by an industry source showed.
Iraq's Oil Exports Fall in April Amid Port Work, OPEC Cut
Oil shipments from Iraq's southern terminals have fallen so far in April, according to loading data and an industry source, reflecting a temporary drop in export capacity and Iraqi efforts to comply with OPEC production cuts. OPEC's second-largest producer has curbed output this year as part of an OPEC-led supply reduction deal, although OPEC figures show that until…
Iraq's Southern Exports Lower after OPEC Cut
Oil exports from Iraq's southern terminals have edged lower so far in February, according to loading data and an industry source, a sign that OPEC's second-largest producer is keeping a lid on shipments following a commitment to cut output. During negotiations on the supply cut by OPEC and non-OPEC producers, Iraq had sought an exemption - leading to scepticism that the country would comply with the accord.
Oil Exports From Southern Iraq Down in January
Crude oil exports from southern Iraq in January fell to 3.275 million barrels per day (bpd) from 3.51 million bpd in December, as the country complied with an agreement with other producers to reduce output, two oil executives said on Tuesday. December's exports from the southern region, where Iraq produces most of its oil, set a record high. Iraq is OPEC's second-largest crude producer after Saudi Arabia.
Iraq Seeks Foreign Partner for Second Gas Plant
Iraq is looking for foreign partners to build and operate a second venture to process gas released as a by-product of oil production in its southern fields, state-run South Gas Company said on Tuesday. The new venture will collect gas currently being flared because of a lack of processing capacity, South Gas Co. director general Ihsan Abdul Jabbar told Reuters in Basra, southern Iraq.
Iraq's Basrah Gas output Soars
Natural gas output from the Basrah Gas Company, the main producer of the fuel in southern Iraq, rose to 765 million cubic feet per day, the Iraqi Oil Ministry said on Saturday. Basrah Gas output stood at about 700 million cubic feet/day on Jan. 12. Basrah Gas is a joint venture between Iraq state-run South Gas Co., Shell and Mitsubishi. The company captures and processes the gas associated with oil produced from fields in southern Iraq.
Iraq's Southern Oil Exports Fall Since Start of OPEC Cut
Oil exports from Iraq's southern terminals have fallen so far in January, according to loading data and an industry source, a sign that OPEC's second-largest producer is following through on the group's decision to cut output. Baghdad's initial request to be exempt from the deal, plus loading programmes pointing to continued high Iraqi exports, have added to scepticism that the country would comply with the output cuts.
Kuwait Energy Signs Agreement with EGPC for Iraq's Siba Field
Kuwait Energy Plc signed a farm-out agreement to give Egypt's General Petroleum Corp (EGPC) a 20 percent participating interest for the Siba field in Iraq, the company said in an emailed statement on Wednesday. The agreement, signed in Egypt on Monday, remained subject to Iraqi regulatory approval. The Siba deal marks the second partnership between Kuwait Energy and EGPC in southern Iraq.
Iraq Lures Investors to Boost its Oil Output as OPEC Debates Cuts
As OPEC gathers in Vienna next month to consider cutting its oil output, a lower profile event in Baghdad on the same day will signal Iraq's longer term ambition to do precisely the opposite. Nov. 30 is both the date when OPEC ministers meet in the Austrian capital and the deadline set by Iraqi oil minister Jabar Ali al-Luaibi for international firms to submit bids to help it develop 12 "small and medium-sized" oil fields.
Foreign Firms to Increase Spending on Iraqi Oil Fields in Basra
Foreign oil companies will increase their investments to increase output in Basra, the main producing region of Iraq, state-owned South Oil Company Deputy Director General Salah Mahdi told Reuters on Monday. The companies'investment budget increased to $7.29 billion in 2017, from $6.6 billion in 2016, he said on the sidelines of a CWC conference in Beirut. The companies that operate in southern Iraq are BP, Shell, Lukoil, Exxon, Eni, CNPC <CNPET.
Iraq's New Oil Minister Sticks by Demand to Review Foreign Contracts
Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation's new oil minister said, standing by a demand made by his predecessor. Oil Minister Jabar Ali Al-Luaibi conveyed his position at a meeting on Monday in Baghdad with BP's head in Iraq, Michael Townshend, the ministry said in a statement.
Iraq's Southern Oil Exports Hit Record High in April
Oil exports from southern Iraq have reached a record monthly rate so far in April as OPEC's second-largest producer resumes the supply growth that has added downward pressure on prices. Baghdad had given verbal support to an initiative by OPEC and outside producers to freeze output. But they failed to reach a deal at an April 17 meeting, and rising exports from Iraq…
Oil Falls as Output Freeze Doubts Linger
OPEC output rising ahead of April 17 meeting in Doha; Saudis to freeze output only if others do. Oil futures fell below $40 per barrel on Friday, with the market growing increasingly sceptical that a looming deal to freeze crude production can help clear a global glut. Saudi Arabia will freeze its oil output only if Iran and other major producers do so, Saudi Deputy Crown Prince Mohammed bin Salman told Bloomberg in an interview, helping push prices lower.
OPEC Oil Output Rises in March
OPEC oil output is rising in March, a Reuters survey found, as higher supply from Iran after the lifting of sanctions and near-record exports from southern Iraq offset maintenance and outages in smaller producers. The survey also found no major change in production in top exporter Saudi Arabia - another sign that Riyadh is serious about freezing output to support prices, which hit a 12-year low near $27 a barrel in January but have since recovered to $40.
Eni Starts Three O&G Treatment Plants at Zubair Field
Eni and Kogas have introduced, in the presence of H.E. the Deputy Minister of Oil Fayadh Hassan Nima and other representatives of the Iraqi government, three new generation plants for the oil, gas and water treatment (Initial Production Facilities) in the Zubair field, Southern Iraq. The plants, which together with those existing, restructured and modernized, have increased the oil and gas treatment capacity to about 650 thousand barrels per day…
Iraq Exports 2nd Gas Condensates Cargo
Iraq exported on Wednesday a second cargo of gas condensates, produced by the Basrah Gas Company, a joint venture between the state-run South Gas Co., Shell and Mitsubishi, the oil ministry said in a statement. A tanker carrying the 10,500 cubic metre cargo left he southern port of Khor al-Zubair, heading to Fujairah, in the United Arab Emirates, which was the same destination of the first cargo that was exported on March 20, it said.
