Vinson & Elkins and Cleary Gottlieb Steen & Hamilton are advising Iraq’s oil ministry in a $17.2 billion deal with Royal Dutch Shell and Mitsubishi to develop the infrastructure required to process natural gas in the southern part of Iraq. The transaction agreements, which were signed on 27th November, came as Iraq attempts to rebuild its […]
Shell, Mitsubishi and the Iraqi government have finally signed the $17.2 billion deal on Sunday to capture flared gas at Iraq's southern oilfields. The 25-year project is intended to boost production of badly needed electricity and reduce the environmental damage caused by flaring, as well as opening up the possibility of gas exports. It will harness […]
Reuters reports that the United Arab Shipping Company (UASC), which is jointly owned by a group of Gulf Arab states and Iraq, has picked banks for investor meetings in advance of a possible bond issue. Deutsche Bank, Mitsubishi UFJ and UBS will arrange meetings for the company. Roadshows will begin in Singapore on Thursday, and […]
Reuters reports that Iraq's cabinet approved a $17 billion deal with Royal Dutch Shell and Mitsubishi on Tuesday to capture gas that is now being flared off in the oilfields around the southern oil hub of Basra. The 25-year venture is expected to help Iraq make use of more than 700 million cubic feet per […]
The contract for the giant Shell/Mitsubishi project to capture gas from Iraq's southern oilfields has taken a step closer to completion. Government Spokesman Dr Ali al-Dabbagh told Iraq Business News that Shell has agreed to the changes required by the oil ministry, and that the contract is now awaiting approval by Iraq's Cabinet. The project […]
AKnews reports that Shell and Mitsubishi’s giant gas venture in Basra has been criticised for planning to sell gas to fuel-starved Iraqi power plants at too high a price. The fuel will be sold at $4.38 per million British thermal units (mbtu), less than a third of the $15/mmbtu that is charged in parts of […]
The attached document is a detailed analysis of the joint venture between South Gas Company and Shell & Mitsubishi, prepared by our expert blogger Ahmed Mousa Jiyad. 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 […]
Ahmed Mousa Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES). 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. He is […]
Shell and Mitsubishi signed a final draft agreement with Iraq on Tuesday for a deal worth between $12 billion and $17 billion to capture flared gas at the southern oilfields. The long-awaited deal still needs the approval of Iraq's cabinet, Oil Minister Abdul-Kareem Luaibi [Elaibi] said in a statement. The Iraqi government will hold 51 […]
Shell and Mitsubishi are preparing to begin a delayed $12.5 billion natural-gas project in Iraq, according to a report from Bloomberg. Vice president and country chairman Hans Nijkamp said in an interview published on the website of Energy Exchange, organizer of an Iraqi energy conference to be held in Istanbul in September: “Shell and Mitsubishi […]
Iraq has warned Shell that it needs to finalise a $12 billion [14.4 trillion Iraqi dinar] gas deal by next week or it would cancel negotiations over the agreement, the country's deputy oil minister, Ahmed al-Shamma, said on Monday. "We warned Shell that either we finalise... the deal next week or we will cancel everything", […]
Oil giant Shell hopes its plan to use the huge amount of associated gas expected to come from Iraq's oil output growth over the next decade will be approved soon, the company's chief executive Peter Voser said on Tuesday According to the report from Reuters, he did not clarify what he meant by 'soon'. "We […]
