By John Lee. The UK's Serious Fraud Office (SFO) has secured convictions against two former oil executives who conspired to give corrupt payments to secure contracts in Iraq. A jury at Southwark Crown Court found Ziad Akle guilty on two counts and Stephen Whiteley guilty on one count of conspiracy to give corrupt payments. [Update […]
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Tags: Corruption, featured, fraud, mn, Monaco, SBM Offshore, Serious Fraud Office, SFO, Single Point Moorings, South Oil Company (SOC), Unaoil, United Kingdom
Petrofac secures Contract Extension with Basra Oil Company
Petrofac's Engineering & Production Services division (EPS) has secured a further six-month contract extension with Basra Oil Company (BOC) for its long-standing Iraq Crude Oil Export Expansion Project (ICOEEP). According to a statement from Petrofac, the confirmation of the contract extension is recognition of Petrofac's successful seven-and-a-half-year track record of safe and efficient delivery and […]
Tags: Basra Oil Company (BOC), featured, Iraq Crude Oil Export Expansion Project (ICOEEP), mn, Petrofac, Single Point Moorings, SPM
Petrofac wins $160m Iraq Contract
Petrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company (BOC), previously known as South Oil Company (SOC), for its Iraq Crude Oil Export Expansion Project (ICOEEP). The new two-year extension reflects Petrofac’s continued delivery focus and five-year track record as the incumbent operations and maintenance service […]
Tags: Al Fao, Basra Oil Company (BOC), featured, Iraq Crude Oil Export Expansion Project (ICOEEP), Iraq Oil Exports News, Petrofac, Ports, Single Point Moorings, South Oil Company (SOC), SPM
Basra Oil Terminal stops Loading for 24 hrs
By John Lee. Oil exports from Iraq's main gulf terminal have reportedly stopped from midnight on Tuesday for 24 hours to allow the installation of a new pipeline. Two sources at the South Oil Company (SOC) told Reuters that loading at the three single-point moorings (SPMs) connected with the Basra terminal will not be affected. […]
Tags: ABOT, Al-Basra Oil Terminal, Basra News, featured, Iraq Oil Exports News, pipelines, Single Point Moorings, South Oil Company (SOC), SPM
Southern Exports Remain High
By Simon Kent. Iraq's southern oil exports remained close to their recent record of 3.37 million bpd, which was hit in November, Reuters reports. Possibly lessened by several days of maintenance work at the Single Point Moorings at the Basra terminals, the figures for December were slightly lower, at 3.27 million bpd. This closes a good year […]