The latest Petronas Business News – Majnoon Iraq Oilfield, contract, Shell Oil, Malaysia, crude oil and more – brought to you by Iraq 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 […]
The Iraq Britain Business Council (IBBC) has held its first major networking event in Dubai, to accommodate the demand from its members, who operate from Dubai as a regional business hub. Vikas Handa, the IBBC UAE Representative said over the last few years UAE has emerged as the hub for companies doing business in Iraq, […]
On Tuesday 1 August, 2017, the Iraq Britain Business Council (IBBC) will hold its first networking event in Dubai. The event follows the appointment of Vikas Handa (pictured) as IBBC UAE representative. Vikas intends to host regular networking events in the UAE for IBBC members and companies that are interested in working in Iraq. Since […]
Ratba’a Contracting Company has just joined the Iraq Britain Business Council (IBBC). Ratba’a is an Iraqi Company based in Basra and Baghdad and is owned by Haj Aboud Al Khlaidy & Sons Group. The group works to deliver projects in key sectors such as oil and gas (currently Shell, Petronas and BP are major clients), […]
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Jabbar al-Luaibi, Minister of Oil of the Republic of Iraq, took place in St. Petersburg today. The parties discussed the Badra project, which is implemented in Iraq by Gazprom Neft. Currently, the Badra field produces as much as 77,000 barrels of oil per day. Gazprom Neft continues to […]
The end of 2016 saw several new members join the Iraq Britain Business Council (IBBC), each of which are underpinned by strong reputations for innovation, reliability and a commitment to investing in Iraq. GE, Khudairi Group, Pell Frischmann, Petronas and Siemens join 51 other world- and region-leading companies that form IBBC’s Council of Members. “IBBC […]
Baroness Nicholson – Opening Speech for the Iraq Britain Business Council (IBBC) Conference on December 18th in Dubai: Welcome to Dubai. IBBC has been aware for many years of the important role that the UAE plays as a regional hub for business and trade through the MENA region and in particular as a regional base […]
By John Lee. Reuters reports that Baghdad has reached agreement with BP, Shell and Lukoil to restart stalled investment in Iraqi oil fields, allowing production to increase by 250,000-350,000 bpd in 2017. According to documents seen by Reuters, the three firms agreed to spend in the second half of 2016 roughly half the budgets they proposed […]
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] has said that Iraq’s oil and gas industry will need an investment of $300 billion over the next 15 years. He made the statement during a visit to Japan, at which he also discussed the long relationship between the two countries in the energy […]
By Simon Kent. Turkish oil and gas services company Ergil have announced the completion of a project with Petronas, to provide pipeline maintenance via "pigging" at the Gharraf oil field in Thi Qar province. Gharraf is operated by Petronas, Japex and North Oil Company, and the services Ergil provided installing "pig launchers" and "pig receivers" […]
By John Lee. According to a report from the Financial Times, Iraq’s introduction of the new Basra Heavy crude oil grade is causing problems for the international oil companies (IOCs). Since its launch in June, IOCs such as Shell, BP, Total, Lukoil, Petronas and China National Petroleum Corporation (CNPC) have received their remuneration for development […]
By Robert Tollast. Russia's Gazprom Neft has announced that production at the Badra field in Wasit province is close to double last year's production, now reaching 28,000 bpd. Gazprom Neft's commercial production and exports at Badra started in September last year, after the company signed a contract to develop the field in January 2010, as […]
