Tag Archives | Basra Gas Company

Shell to Exit Iraqi Oil Business

By John Lee. Oil giant Shell is trying to sell its stake in the Majnoon oilfield (pictured) in southern Iraq, following a failure to reach agreement with Iraq’s Ministry of Oil. A Shell spokesman told UAE-based newspaper The National: “Following extensive discussions with the Ministry of Oil, the oil minister of Iraq formally endorsed a […]

Chinese Company wins $445m Construction Order

By John Lee. Chinese engineering company Norinco International has reportedly signed a contract with Jabal Bazian Co for General Trading [Jabal Jaber Bazian Company for General Trading] for the construction of a new cement plant in Iraq. The $445-million contract covers the plant’s production line design, purchasing, construction management, operational work as well as  administration […]

Iraq to Begin Snuffing Out Flares

Oil-producing countries yet to address their gas flaring may begin to feel there are no more excuses. In a remarkable and bold decision, the government of Iraq recently endorsed the “Zero Routine Flaring by 2030” Initiative, (ZRF), which means the country has committed to not routinely flare associated gas in any new oil fields and […]

Shell “Considering Selling” Iraq Oil Assets

By John Lee. Shell is reported to be considering selling its oil fields in Iraq, as part of a global $30-billion asset disposal program. The move follows the company’s $54-billion acquisition of gas company BG Group earlier this year. Industry sources told Reuters that Shell has found only limited financial benefits in recent years from […]

Increased Exports of LPG from Iraq

By John Lee. In its third-quarter results, Epic Gas says that increased LPG production at the Basrah Gas LPG plant has resulted in surplus tonnes available for export. The company said that it has recently noticed a growing number of pressure cargoes coming out from Iraq, and it expects to see this trend continue. (Source: Epic […]

Condensate and LPG Exports Continue

By Simon Kent. Iraq’s Ministry of Oil have announced that 2 cargoes, one of LPG, one of Condensate, have departed the export terminals at Basra. Iraq began exporting LPG earlier this year through its Basra Gas Company Joint Venture, a consortium of Shell, Iraq’s South Gas company and Mitsubishi as the minority stakeholder. Proceeds will […]

Iranian Gas Imports for Iraq in September

By Simon Kent. Iran is to start exporting gas to Iraq from the South Pars field after a year long delay, Bloomberg reports. The shipments will begin at 7 million cubic meters a day for power generation in Baghdad. Another export route is planned for 2017, which will serve Basra, totaling 70 million cubic meters a day […]

New Gas Processing Facility in Maysan

By Simon Kent.  Iraq’s Maysan province, which borders Iran, has opened a new gas processing facility to treat associated gas from the Fakka and Bazargan fields. A statement from Iraq’s Ministry of Oil did not say how much gas was being processed, but the gas had previously been flared and will now be used for power […]

First Shipment of Iraqi Liquified Flare Gas

By John Lee. Iraq exported its first shipment of liquified flare gas through Umm Qasr port on Saturday. Describing it as an “historical accomplishment and an economic event“, Dr. Hamid Y. Salih, the Deputy Minister for the gas industry, said the exported quantity was 2,000 tons, with production now running at 5,000 tons/day. Mr. Simon Diamond, […]

Condensate Exports Continue

By Simon Kent. Iraq’s Ministry of Oil have announced a 20,000 m3 shipment of condensate, the third since exports began in March. It is likely that the proceeds from this sale will go to pay IOCs, who are still owed funds for contractual work, as stipulated by their Technical Service Contracts. A number of observers […]

Gas Condensate Exports – a New Beginning for Hydrocarbon Industry?

By Rami Khrais for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Do gas condensate exports represent new beginning for Iraq’s hydrocarbon industry? Iraq exported its first shipment of gas condensate on March 20, from the port at Khor al-Zubair to Fujairah in […]

Iraq Exports First Shipment of Natural Gas

By John Lee. Iraq exported its first shipment of natural gas on Sunday. Oil Ministry spokesman Assem Jihad said a cargo of about 10,000 standard cubic feet of gas, in the form of condensates, left the port of Umm Qasr. He declined to name the buyer, but Oil and Gas Year cites sources as saying […]