Search results for "shell"

Majnoon Central Processing Facility (CPF) (Shell)

$2.2bn Shell payment to Iraq

By John Lee. Oil giant Shell has just published details of its transactions with the Government of Iraq in 2018 in respect of the Majnoon oilfield, as part of its Report on Payments to Governments 2018. Click on image below to see in more detail: (Source: Shell)

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Shell "Still Evaluating" Viability of Nebras Petrochemicals Complex

By John Lee. Shell is reported to be still in the process of evaluating the viability of the $11-billion Nebras petrochemical complex in Basra. The project was designed to produce 1.8 million mt/year of various petrochemicals, using naphtha as a feedstock. Last year, Reuters reported that Saudi Basic Industries Corp (SABIC) was in talks to […]

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Majnoon Central Processing Facility (CPF) (Shell)

Shell hands over Majnoon Oilfield

By John Lee. Shell has reportedly exited the Majnoon oilfield and handed over its operations to the Basra Oil Company (BOC). Sources told Reuters that the handover was formalised on Wednesday, and that the process was "smooth". According to the news agency, Anton Oilfield Services (AntonOil) and Petrofac will now operate the giant oilfield on […]

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Basrah Gas Company (BGC) logo

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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Separators, Majnoon Central Processing Facility (Shell)

Antonoil, Petrofac "to take over Majnoon from Shell"

By John Lee. Oil executives have told Reuters that the Iraqi Oil Ministry has signed a two-year contract with China's Anton Oilfield Services (Antonoil) and Petrofac to operate the giant Majnoon oilfield (pictured). The companies will operate the oilfield on behalf of the state-owned Basra Oil Company (BOC), which will take over operations from Shell […]

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Anton Oilfield Services Group (Antonoil)

KBR, Anton Oil to replace Shell at Majnoon?

By John Lee. According to a report from Platts, the Iraqi oil ministry is about to award two management contracts to replace Shell at the Majnoon oil field. Sources say the state-run Basra Oil Company (BOC) has opted to operate the field instead of replacing Shell, and junior partner Petronas, which announced last year it […]

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Andy Brown, Shell

Shell Sells West Qurna-1 stake for $406m

Shell EP Middle East Holdings B.V. has agreed to sell the entire share capital of Shell Iraq B.V (SIBV), which holds its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of Japan's Itochu Corporation. The purchaser will also assume debt of $144 million as part of the transaction. […]

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Qurna, Fao, Zubair, Basra

Japanese Firm Buys Shell's Stake in West Qurna 1

By John Lee. Japan’s Itochu has reportedly bought Shell's 20 percent stake in the West Qurna 1 oilfield. Ihsan Abdul Jabbar, the head of state-run Basra Oil Company (BOC), told Reuters that the oil ministry discussed the required financial investments and operations at the field with Itochu, and approved the deal. West Qurna 1, operated by […]

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Majnoon Central Processing Facility (CPF) (Shell)

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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Taq Taq (Genel Energy)

Shell Veteran to be Genel Energy CFO

Genel Energy has announced that Esa Ikaheimonen has been appointed as Chief Financial Officer. He will be based in London and will join the Company on 3 July 2017. Esa has over 25 years of oil and gas industry experience, most recently as Group CFO of leading publicly listed offshore drilling companies Transocean and Seadrill. […]

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Shell logo

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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Shell logo

Shell, Vitol increase UAE storage for Iraqi Oil

By John Lee. Shell and oil trading house Vitol are reported to be stepping up their operations in the port of Fujairah to store Iraqi crude. Shell, an equity partner in Iraq's Majnoon oilfield, leased five large crude storage tanks at Fujairah port last year. Vitol has also started to store crude from Iraqi Kurdistan in […]

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