By John Lee. The China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are reportedly considering acquiring Exxon Mobil's remaining stake in Iraq's West Qurna 1 oilfield. According to sources cited by Bloomberg, the stake could fetch more than $500 million. ExxonMobil originally had a 60% stake in the field, but sold […]
Tag Archives | Pertamina
Tags: China, China National Petroleum Corporation (CNPC), CNOOC News, Exxon, Exxon Mobil, ExxonMobil, featured, Itochu, Japan, mn, Pertamina, United States, West Qurna Oilfield News
Iraq to Increase Production at West Qurna 1
By John Lee. Oil production is to increase at the West Qurna 1 oilfield, according to Reuters. The news agency quoted Basra Oil Company (BOC) chief Ihsan Abdul Jabbar as saying on Wednesday that output will rise from 440,000 barrels of crude oil per day (bpd) to 490,000 bpd in the “next few days”. The […]
Tags: Basra Oil Company (BOC), ExxonMobil, featured, Iraq Oil Production News, Iraqi Oil Exploration Company, Itochu, mn, Pertamina, PetroChina, West Qurna Oilfield News
New Oil Bidding Round Postponed to Mid-2017
By John Lee. The Ministry of Oil is to postpone a bidding round for 12 small- and medium-sized oil fields, following criticism of the plans by experts including IBN Expert Blogger Ahmed Mousa Jiyad. In a statement, the Ministry's Petroleum Contracts and Licensing Directorate (PCLD) said: "Following to the previous Ministry of Oil Announcement dated […]
Tags: Abu Khema field, Ahmed Mousa Jiyad, Aumara, China, Crescent Petroleum, Dema field, Dragon Oil, Dujaila field, Edison, featured, Glencore, Gulfsands, Indonesia, Inpex, Italy, Itochu, Japan, Japex, JOGMEC, JX Holdings, Kifl field, Kumait field, Kuwait, Kuwait Energy, Maysan, Mergan field, Missan, Mitsui, Mubadala Oil, Noor field, PCLD, Pertamina, Petroleum Contracts and Licensing Directorate, PetroVietnam, PTTEP, Rachi field, Romania, Romgaz, Rosneft, Russia, Sindebad field, Switzerland, tenders, Thailand, Umara field, Umm Qasr, Umm Qasr field, United Arab Emirates (UAE), United Kingdom, Vietnam, West Kifl field, Zhenhua Oil
Jiyad: Min of Oil should Withdraw Plan to Offer 12 New Oilfields
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil should withdraw its plan to offer 12 new oilfields. In a rather surprise move, the Ministry of Oil (MoO) announced its “intention” to offer 12 medium and small […]
Tags: Abu Khema field, Ahmed Mousa Jiyad, Aumara, China, Common Seawater Supply Facility (CSSF), Common Seawater Supply Project (CSSP), Crescent Petroleum, Dema field, Dragon Oil, Dujaila field, Edison, featured, Glencore, Gulfsands, Indonesia, Inpex, Italy, Itochu, Japan, Japex, JOGMEC, JX Holdings, Kifl field, Kumait field, Kuwait, Kuwait Energy, Maysan, Mergan field, Missan, Mitsui, Mubadala Oil, Nassiriya Integrated Project, Noor field, oil contracts, Pertamina, PetroVietnam, PTTEP, Rachi field, Romania, Romgaz, Rosneft, Russia, Sindebad field, Switzerland, tenders, Thailand, Umara field, Umm Qasr, Umm Qasr field, United Arab Emirates (UAE), United Kingdom, Vietnam, West Kifl field, Zhenhua Oil
New Oil Development Opportunities in Iraq
By John Lee. Iraq's Ministry of Oil has requested proposals from international oil companies interestsed in developing a number of small- and medium-sized oil fields. The fields concerned are: Sindebad (Basra governorate); Umm Qasr [Um Qaser] (Basra governorate); Rachi (Basra governorate); Abu Khema (Basra governorate); Kumait (Missan governorate); Noor (Missan governorate); Umara (Missan governorate); Dema […]
Tags: Abu Khema field, Aumara, China, Crescent Petroleum, Dema field, Dragon Oil, Dujaila field, Edison, featured, Glencore, Gulfsands, Indonesia, Inpex, Italy, Itochu, Japan, Japex, JOGMEC, JX Holdings, Kifl field, Kumait field, Kuwait, Kuwait Energy, Maysan, Mergan field, Missan, Mitsui, Mubadala Oil, Noor field, Pertamina, PetroVietnam, PTTEP, Rachi field, Romania, Romgaz, Rosneft, Russia, Sindebad field, Switzerland, tenders, Thailand, Umara field, Umm Qasr, Umm Qasr field, United Arab Emirates (UAE), United Kingdom, Vietnam, West Kifl field, Zhenhua Oil
Pertamina looks to India to Process Iraqi Crude
By John Lee. According to a report from Reuters, Indonesia's state-owned energy company Pertamina hopes to seal a deal this year with an un-named Indian refiner to process around 1 million barrels of Iraqi crude oil each month. Chief Executive Dwi Soetjipto (pictured) told reporters: "It is better if we purchase the crude and then utilize […]
Capital Gain Tax on IOCs in Iraq
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Many countries impose capital gain tax on individuals, companies and corporations when a profit realized from the sale of assets. National and state legislation often has a large array of fiscal obligations […]
Tags: Ahmed Mousa Jiyad, al-Ahdab, Basra Gas Company, BGC, Capital Gain Tax, CNPC, Exxon, Exxon Mobil, ExxonMobil, KOGAS Iraq News, KRG, LUKoil, mergers, Nassiriya Integrated Project, Pertamina, Statoil, taxation, West Qurna Oilfield News
ExxonMobil Sells Stakes in West Qurna I
By John Lee. ExxonMobil signed agreements on Thursday with PetroChina for a 25 percent participating interest in the West Qurna I project in Iraq, and with Indonesia's Pertamina for a 10 percent participating interest in West Qurna I. ExxonMobil retains 25 percent interest and remains lead contractor. The transfer has been approved by the South Oil […]
Tags: China, Exxon, Exxon Mobil, ExxonMobil, Indonesia, Pertamina, PetroChina, Shell, South Oil Company (SOC), West Qurna Oilfield News
Exxon to Sell West Qurna Stake
Reuters reports that Exxon Mobil is selling part of its stake in the West Qurna-1 oilfield to PetroChina and Indonesia's Pertamina. Oil Ministers Abdul Kareem Luaibi [Elaibi] told the news agency that 25 percent will go to PetroChina and 10 percent to Pertamina. He added that the deal would be done "maybe after two to […]
Tags: China, Exxon, Exxon Mobil, ExxonMobil, Indonesia, Pertamina, PetroChina, West Qurna Oilfield News
Iraq may Invest in Indonesian Oil Refineries
The Jakarta Post reports that Indonesia is likely to partner with Iraq to build oil refineries in Indonesia. The director general for oil and gas at Indonesia's Energy and Mineral Resources Ministry, Edy Hermantoro, is quoted as saying: "Both deputy energy ministers from the two countries have signed a memorandum of understanding [MoU] for cooperation […]
Indonesia Buys June-Dec Basra Light Crude
By John Lee. Indonesia has signed a deal with Iraq's State Oil Marketing Organization (SOMO) to buy Basra light crude in the second half of 2013. According to reports from Reuters and Jakarta Globe, Iraq is winning more customers in Asia as it is selling its crude cheaper than comparable grades, undercutting rival Saudi Arabia […]
Pertamina to Buy Stake in West Qurna?
By John Lee. Indonesia's Coordinating Minister for the Economy, Hatta Rajasa (pictured), has said Pertamina is considering taking a stake of up to 20 percent in the West Qurna-I block, which is owned by Exxon Mobil. According to a report from Fox Business, Mr. Rajasa told reporters: "Exxon has got a new oil field in […]