Tag Archives | Mitsubishi

Basrah Gas Company to Increase Capacity by 40%

By John Lee. Shell has reportedly announced that the Basrah Gas Company (BGC) has taken a “final investment decision (FID)” on its growth programme, which will increase BGC’s capacity by 40 percent. According to Oil and Gas Middle East, the decision was taken with the support of all BGC’s shareholders: South Gas Company (SOC), Shell […]

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BGC to Increase Gas Output by 16% by end-Dec

By John Lee. The Basra Gas Company (BGC) is expected to increase production from its current level of 900 million cubic feet per day (mcf/d) to 1,050 mcf/d by the end of this year. A statement from the Ministry of Oil on Thursday added that the project aims to reach a target of 2,000 mcf/d […]

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Shell plans Major Expansion at BGC

By John Lee. Having sold its stake in the West Qurna 1 project to Japan’s Itochu, Shell is now said to be “fully committed” to the giant Basra Gas Company (BGC), which captures gas from Iraq’s southern oilfields. Frits Klap, managing director of BGC, told Reuters that processing capacity has more than tripled to 938 […]

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Abadi visits Japan to Boost Trade

Prime Minister Haider al-Abadi has arrived in Tokyo for discussions with major Japanese industry and government. He met the CEO of Sumitomo Corporation, Kuniharu Nakamura to discuss future projects in Iraq, including the establishment of factories for car manufacturing in Iraq and providing after-sales services. He also met Hiroyuki Ishige, Chairman and CEO of the […]

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MHPS to Upgrade Hartha Power Station

By John Lee. Iraq’s Ministry of Electricity has reportedly awarded a contract to Japan’s Mitsubishi Hitachi Power Systems (MHPS) to refurbish the Unit 1 of the Hartha thermal power station (pictured) in Basra province. According to Energy Business Review, the power station is claimed to account for approximately 25 percent of Basra’s total power generation […]

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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 […]

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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 […]

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Japan to Resume Lending to Iraq

By John Lee. Nikkei Asian Review reports that state-owned Japan Bank for International Cooperation (JBIC) and the country’s two leading commercial banks — Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking — are preparing to make Japan’s first loan to Iraq in 31 years. The consortium will support an Iraqi government power project with a […]

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IBBC Celebrates Successful Inaugural Conference in Dubai

More than 180 expert speakers and delegates from the UK, Iraq, UAE and abroad gathered in Dubai at The Address Dubai Marina on Sunday 18 December for the Iraq Britain Business Council’s (IBBC) Autumn Conference. Usually held in London, the well-attended conference marked the first time the IBBC has held an event in the UAE, […]

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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 […]

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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 […]

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