Tag Archive | "Chevron"

China Consolidates Position in Iraqi Petroleum Sector


By Ahmed Mousa Jiyad.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

China and CNPC are Consolidating Further their Positions in Iraq Petroleum Sector

Four years after the first bid round took place, some international oil companes (IOCs) are consolidating their positions. while others are descending after good start, and some were even unable to make an entry. CNPC stands among the first group, while ExxonMobil exemplifies the second group, and companies such as Chevron, Repsol and Conoco Phillips fall into the third group.

In a previous paper I addressed how Russia has entrenched and solidified its role in the Iraqi petroleum sector. This paper is mainly about CNPC’s path to consolidating its presence in this sector.

Please click here to read Ahmed Mousa Jiyad’s report.

Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya@online.no, Skype ID: Ahmed Mousa Jiyad).

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Turkey Unlikely to Upset Iraq in KRG Energy Deal


By Semih Idiz for Al-Monitor . Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

It is no secret, thanks to frequent leaks to the media, that energy cooperation between Turkey and the Kurdistan Regional Government (KRG) is continuing apace. This, however, has not broken the determination by both sides to maintain a low-key position on the subject. The sensitivity is due to strained ties between Baghdad, Ankara and Erbil over a number of issues, including the exploitation of northern Iraqi oil and gas.

The KRG has been demanding an independent say over the gas and oil in its region, arguing that Baghdad has not honored its pledge to give the Iraqi Kurds their rightful share of Iraq’s oil revenues. Baghdad denies this and has declared the KRG’s stance illegal and dangerous in terms of Iraq’s territorial integrity.

Baghdad has also accused Turkey of endangering Iraq’s territorial integrity through separate energy deals with the KRG, and has US support on this point. This, however, has not prevented energy cooperation between Turkey and the KRG. Turkish officials say if the United States is concerned, it should first convince the American oil giants Exxon and Chevron, who have also signed deals with the KRG.

An exclusive Reuters report this week, citing unidentified official sources, also showed that Turkey and the KRG are pushing ahead with “a comprehensive package of deals” in the energy field. This package, reportedly agreed on during last week’s visit to Istanbul by KRG Prime Minister Nechirvan Barzani, includes multibillion-dollar oil and gas pipelines between Turkey and northern Iraq.

According to the Reuters report, these will enable the KRG to export some 2 million barrels per day of oil to world markets, and at least 10 billion cubic meters of gas to Turkey annually when completed. The first pipeline is almost ready and should be pumping oil by the end of December. The next stage will be to pump northern Iraqi gas by pipeline as of December 2016. The technical details for a pipeline that will carry heavy oil between northern Iraq and Turkey are also said to have been mapped.

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List of Oil Companies in Kurdistan


Erbil Governorate has compiled and published a list of the top oil companies in Kurdistan [Note: This list was originally compiled and published by Marcopolis - Ed.].

Listing them by country:

USA

  • Exxon Mobil
  • Chevron
  • Aspect Energy
  • Marathon Oil Corporation
  • Hillwood International Energy
  • Hunt Oil
  • Prime Oil
  • Murphy Oil
  • Hess Corporation
  • HKN Energy
  • Viking International

Canada

  • Forbes and Manhattan
  • Western Zagros Resources
  • Talisman Energy Inc
  • NIKO Resources
  • Ground Star
  • Shamaran

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Chevron Signs 3rd KRG Oil Deal


By John Lee.

France24 reports that Chevron has signed another oil exploration deal in Iraqi Kurdistan.

The contract, under which Chevron will acquire an interest in and operatorship of the Qara Dagh block production sharing contract, is the company’s third in the autonomous region; it was previously barred from working in non-Kurdish parts of the country following the previous agreements.

The block lies southeast of Erbil and is about 860 square kilometres (332 square miles) in total area.

(Source: )

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Iraqi Oil-for-Food Lawsuit Collapses


By John Lee.

An Iraqi lawsuit accusing more than 90 companies of conspiring with Saddam Hussein’s regime to frustrate the United Nations’  program, and depriving Iraqis of roughly $10 billion of essential aid, has been dismissed by a court in New York.

Reuters reports that U.S. District Judge Sidney Stein said the government of Iraq could not recover damages and other remedies under an anti-racketeering law because most of the wrongful conduct took place in foreign countries.

He also said Iraq failed to allege the companies’ conduct was a key reason for the injury, and that laws governing sovereign nations did not let the current government escape responsibility for Hussein’s abuses.

“The court rejects Iraq’s view that it may sidestep responsibility because the conduct was illegal or the actors held power illegitimately,” he wrote.

Defendants in the 2008 lawsuit over the $64.2 billion oil-for-food program included:

  • French bank BNP Paribas, which administered a U.N. escrow account for the program;
  • Swiss engineering company ABB;
  • Dutch chemicals company Akzo Nobel;
  • U.S. oil company Chevron;
  • German automaker Daimler;
  • British drugmaker GlaxoSmithKline; and,
  • German electronics company Siemens.

The U.N. program let Iraq sell oil to finance the purchase of food, medicine and other goods for citizens hurt by international trade sanctions.

(Source: Reuters)

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Chevron Awarded Stake in Qara Dagh


By John Lee.

Iraqi Kurdistan’s energy minister, Ashti Hawrami, is reported as saying that the KRG has awarded Chevron a stake in the Qara Dagh oil block (pictured).

Jay Pryor, Chevron’s Vice President for business development, met with Kurdistan President Mr Masoud Barzani at the World Economic Forum in Davos, reports Steel Guru.

During the meeting, Chevron expressed its strong commitment to all its projects in Kurdistan.

(Sources: Reuters, Steel Guru, Aswat al-Iraq)

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Ministry of Oil: Chevron “Should be Ashamed”


By John Lee.

The Iraqi Oil Ministry has re-confirmed that Chevron is barred from contracts with the Federal Goverment in Baghdad, and says the company “should be ashamed of their action” in dealing with the Kurdistan Regional Government, which it accuses of smuggling.

The Ministry issued the following statement on Wednesday:

Chevron Oil Company announced that it signed contracts with the ministry of natural resources in Kurdistan province by buying most of Indian Reliance Company shares in 19/7/2012. And the company did that without gaining the approval of the oil ministry and the federal government while they knows the judgment of the oil ministry & the federal governments which considers that all the regional government signed contracts are illegal because they are contrary to the constitution of the republic of Iraq for 2005, as well as the rules of Kurdistan that gives the foreign contractors big shares of produced oil which is considered as a waist of the national fortune.

The oil ministry disclaims to the following:

First: the federal oil ministry is surprised of the attitude of Chevron whom claimed to adopt the principles of transparency, public and ethics of oil industry As well as the international American & European companies. Which is contrary to Chevron’s action in signing contract with the ministry of natural resources of Kurdistan in secret & suspicious way far from the principles of the international oil companies.

Second: Chevron and the whole world knows that the produced oil of Kurdistan does not be delivered to the federal oil ministry – as the deal – but smuggled to the nearby countries like Iran and Turkey by the organized smuggling networks. And no one knows the quantities of the smuggled oil and their incomes.

According to the previous, the reputation of Chevron and the other companies will be examined today and we are sure that they will fail and should be ashamed of their action. As well as according to the oil policy which is based on the provisions of the constitution, the oil ministry decided to cancel the qualification of Chevron and prevent them from signing any contract with the federal oil ministry and its companies especially the up streaming sector unless they cancel the mentioned contract.

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Iraq Blacklists Chevron for Kurdish Oil Deals


By John Lee.

An Iraqi oil ministry statement on Tuesday said that Chevron, the second largest U.S. energy company, will be barred from contracts in central and southern Iraq as a result of buying stakes in two oil-exploration blocks in Iraqi Kurdistan.

“Chevron is barred from any agreement or contract with the federal ministry of oil and its companies …unless it retreats from the contract it signed in Kurdistan region,” the oil ministry statement said.

Chevron purchased 80% stakes in the Sarta and Rovi blocks in Iraqi Kurdistan from India’s Reliance Industries; Austria’s OMV holds the remaining 20 percent.

Baghdad has already blacklisted companies that maintain deals with the Kurds, excluding them from working elsewhere in Iraq. Among those is New York-based Hess, which was barred last year from competing in the fourth energy auction. Exxon Mobil was also banned from the same auction.

(Sources: Reuters, Wall Street Journal, AKnews)

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