Dow Jones reports that legal difficulties could delay the $12 billion joint venture deal with Shell and Mitsubishi capture and market natural gas from Iraq's southern oil fields, possibly for months. The deal is a joint venture with Shell holding 44% of the project, Mitsubishi 5%, and Iraqi state South Gas Co. the remaining 51%. […]
Mitsubishi and Royal Dutch Shell (LSE: RDSA) are in talks with Iraq on a possible project to build a natural gas processing plant, with Mitsubishi planning a floating liquefied natural gas (LNG) plant to export some of the gas, according to the Wall Street Journal. The remaining natural gas will be used in the domestic […]
Bloomberg, quoting the Nikkei newspaper, says Mitsubishi's gas project in Iraq will receive long-term trade credit insurance from Japan's state-backed Nippon Export and Investment Insurance. According to the report, this is the first time in 21 years that Japan has provided this facility for a venture in the Middle East. The company will insure Mitsubishi’s […]
A multi-billion-dollar gas deal between Iraq and Royal Dutch Shell will be presented for ratification to the new cabinet once it has been formed, Iraq's Oil Minister said. "We are still negotiating the contract," Hussain Al Shahristani said after a graduation ceremony for the oil police, according to a report from Trade Arabia. The $12 […]
Iraq will soon ask for bids on projects to install and run 22 gas turbines that could boost its power generating capacity by 30 percent in the next few years, an official from the Ministry of Electricity said on Tuesday. Reuters reports that the ministry plans to ask companies to build plants in four provinces, […]
Iraq's Oil Ministry is studying an offer submitted by a private a Saudi company to rebuild the idled Iraq-Saudi oil export pipeline, ministry spokesman Asim Jihad told Reuters. Jihad and a representative of the Saudi firm, Ali Mahir, said the offer proposed involving Japan's Mitsubishi and a Hungarian company identified as OTV, which took part […]
Iraq is meeting with Royal Shell Dutch to finalise a draft of a $12 billion deal to develop a gas-structure project in southern Iraq, and may sign a deal by the end of this year, a senior Iraqi oil official told Dow Jones Newswires on Tuesday. "There is a meeting being held in Basra to […]
The Iraqi cabinet has delayed finalising a multibillion-dollar deal with Anglo-Dutch giant Royal Dutch Shell and Japan's Mitsubishi to capture gas from Basra's oilfields because of legal issues related to the joint venture, AKnews reports. The cabinet already approved the planned $12 billion investment in June, but it is now waiting to sign the final […]
Further to the gas deal signed with Shell and Mitsubishi (see our report here), BusinessWeek reports an Iraqi government spokesman as saying that gas output will probably exceed the nation’s domestic demand for power generation by 2015 or 2016, allowing the country to export gas in liquid form. Natural gas is produced as a by-product […]
