A final deal between Iraq and Royal Dutch Shell PLC to tap natural gas in southern Iraq is likely to be delayed until after January’s national elections, a senior Iraqi oil official said on Saturday.
Natural gas shipments from Egypt will start flowing into Lebanon within two weeks, and a team of experts is currently finalizing all related technical issues, the Lebanese official National News Agency, or NNA, reports Monday.
A local company in Iraq’s Kurdistan region has installed the first private sector oil refinery to the west of Arbil city with an initial capacity of 20,000 barrels per day (bpd), Aswat Al-Iraq news agency has reported.
The Washington Post published a report, on Sunday, highlights the energy situation in Iraq, noting that Iraq is still far from achieving its targets in the oil and electricity sectors, and that these sectors need about $50 billion to meet the demand in the country, according to analysts and officials.
Iraq aims to boost oil exports in July to their highest level since the US-led invasion in 2003 and to pump even more in August, a top oil official said on Sunday.
State run oil giant Saudi Aramco and France’s Total S.A. on Tuesday signed $9.6 billion in deals with contractors to build the 400,000 barrel per day Jubail export refinery, one of the oil-rich kingdom’s top projects.
BP Plc and China National Petroleum Corp. were awarded an oil field development contract by Iraq today as the war-torn country rejected bids for other licenses in its first international tender for more than thirty years.
Iraq has opened international bidding for eight large oil and gas fields, paving the way for big investments in a nation with one of the world’s largest petroleum reserves.
Furious protests threaten to undermine the Iraqi government’s controversial plan to give international oil companies a stake in its giant oilfields in a desperate effort to raise declining oil production and revenues.
Royal Dutch Shell has signed a deal to supply Kuwait with liquefied natural gas (LNG) starting this summer, a Shell spokeswoman said on Monday.
