By John Lee. Iraq’s oil ministry has reportedly blamed Shell for $4.6 billion in lost revenue due to production delays, according to a letter seen by AFP . The document, dated July 21, 2013, sharply criticizes the company for shortfalls in oil extraction at Majnoon. Two separate sources with knowledge of the letter’s contents confirmed […]
Who is the biggest winner from the recovery in Iraqi oil production? Denise Natali, a Middle East expert at the National Defense University in Washington, told the New York Times: “The Chinese are the biggest beneficiary of this post-Saddam oil boom in Iraq ... They need energy, and they want to get into the market.” […]
By John Lee. Rigzone reports that the Iraqi oil ministry is planning to auction the giant 'Nasiriya Integrated Project' -- which involves the development of a $4.4-billion oil field and the building of a 300,000 bpd refinery in southern Iraq -- on 19th December. At a workshop in Amman, Jordan, for international companies interested in the […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced that seven international oil companies (IOCs) have been selected to bid for the development of its Nasiriya oilfield and refinery: Zarubezhneft, from Russia (Up and Downstream); CNPC, from China (Downstream); Brown Energy, from US (Downstream); Reliance Industries, from India (Up & Downstream); Lukoil, […]
By John Lee. Reuters has reported that BP will undertake work to arrest declining production at the Kirkuk oilfield, in a move that has outraged the Kurdistan Regional Government. Abdul Mahdy al-Ameedi, head of the oil ministry's Petroleum Contracts and Licensing Directorate (PCLD), told The Wall Street Journal that a request has been sent to […]
By John Lee. Iraq's Petroleum Contracts & Licensing Directorate (PCLD), part of the Ministry of Oil, has announced that following requests received from interested companies the deadline for submitting qualification information for the Nasiriya Integrated Project has been postponed to 28th February 2013. Documents sent by DHL are accepted provided that they have been sent […]
By John Lee. The Iraqi cabinet has expelled Turkey's state-owned Turkiye Petrolleri AO (TPAO) from the consortium that was granted the rights to explore energy block 9, and has asked Kuwait Energy to take over the shareholding. Abdul Mahdi Al Ameedi, director of the oil ministry’s Petroleum Contracts and Licensing Directorate (PCLD), said: "For reasons […]
By John Lee. Exxon Mobil has informed the Iraqi government that it wants to pull out of the $50-billion West Qurna-1 oilfield project, according to a report from Reuters. Abdul Mahdi Al Ameedi, director of the oil ministry’s Petroleum Contracts and Licensing Directorate (PCLD), said: "Exxon has stated in its letter that it has started discussions […]
Iraq has signed a deal with Russia's LUKoil, and Inpex Corp of Japan, to explore the 5,500-square-kilometer (2,100 square mile) Block 10 in Muthanna and Dhi Qar province. Under the contract, the two firms must invest at least $100 million and will be paid $5.99 for each barrel of oil equivalent it finds. "This contract represents […]
By John Lee. Iraq's Ministry of Oil has announced the launch of the Nassiriya Integrated Project, and invited interested companies to become formally qualified to participate in its development. The project involves the integrated development of the more than 4-billion barrel Nassiriya oil field in Thi-Qar province together with the construction and operation of a […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate, part of the Ministry of Oil, has announced that it is working on the launch of the country's 5th energy licensing round. This round of bidding will relate to gas prospects only, with the PCLD saying it will: Choose the exploratory areas that have high and promising […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate, part of the Ministry of Oil, is preparing for a licensing round to develop the Al-Nasiriya oil field, and to build a refinery in the area. These will be considered as a single complete project, and qualified companies will soon be invited to tender. (Source: Ministry of […]
