Posts Tagged by ExxonMobil
Exxon Scouts Already in Erbil
| January 29, 2012 | Filled under Other News |
Despite objections from Baghdad, ExxonMobil already has personnel on the ground in Iraqi Kurdistan, according to Reuters. Whiel the company has kept silent on its exploration agreement with the Kurdistan Regional Government (KRG), one central government regards as illegal, one Western industry source in Erbil told the news agency: “They [Exxon] are definitely here and they are definitely assessing…
Kurds Must Decide to Stay or Leave: Iraq Minister
| December 12, 2011 | Filled under Other News |
Baghdad: Iraq’s autonomous Kurdistan region must decide whether it wishes to remain part of the country or form its own independent state, Baghdad’s oil minister said in an interview. Abdelkarim al-Luaybi’s strong comments come as Iraq aims to ramp up oil production despite not having passed a hydrocarbons law to regulate the distribution of lucrative revenues from crude sales. …
Stocks of Oil Firms in Kurdistan Hit New Highs
| November 15, 2011 | Filled under Other News |
Investors from Dubai to London bought into oil and gas companies with exposure to Iraqi Kurdistan, sending share prices soaring on hopes of lucrative drilling contracts. UAE oil and gas companies with stakes in Kurdistan were given a further boost by financial results that revealed strong profit growth on the back of increased production in northern Iraq. The surge…
Battle Looms Between US Oil Giant and Iraq
| November 14, 2011 | Filled under Other News |
A high-stakes battle over Iraq’s oil commenced yesterday after Baghdad threatened to throw ExxonMobil, one of America’s most powerful companies, out of the country eight years after the US army toppled Saddam Hussein. Baghdad was retaliating after the world’s biggest company signed a landmark deal to explore for oil and gas in six blocks of the semi-autonomous Kurdistan region in…
Chevron to Join Slick of Oil Supermajors in Kurdistan
| November 13, 2011 | Filled under Other News |
American company set to enter the battle for a share of northern Iraq’s massive reserves Chevron is expected to be the next oil supermajor to break into Kurdistan, the semi-autonomous region of northern Iraq. On Friday, ahead of today’s major oil conference in the Kurdistan capital of Erbil, it emerged that ExxonMobil is the first supermajor to have signed…
Russia Faces Price Battle as Iraqi Oil Output Grows
| July 31, 2011 | Filled under Other News |
LONDON: Five large Iraqi oil cargoes are heading to Europe this and next month in a rare development that is the opening shot in a pricing war with rival Russia and could help to bring down high oil prices. The exports of Iraqi Basra oil, an unaccustomed guest in Europe, were triggered by a US oil stocks release in June…
IRAQ ON TRACK IN CONTRIBUTING TO FUTURE WORLD ENERGY SUPPLY
| July 28, 2011 | Filled under Other News |
2nd Basra Oil & Gas 25-28 November 2011 Basra International Fair Ground, Al Maqal Port, Basra, Iraq Perfect meeting point for all parties interested to play an effective role in the shaping of the future of Iraq’s oil & gas industry. 2nd Basra Oil & Gas has exceeded all expectations and has proven it is going to…
Iraq Has Boosted Oil Production to the Highest Level in Decades
| May 24, 2011 | Filled under Other News |
With Iraq seeking increasing support from international oil, gas and service companies for its economic development, CWC is hosting its fifth annual Iraq Petroleum conference in London FOR IMMEDIATE RELEASE As widely reported, anticipation is building around the current preparation by the Iraqi Government for the auction of oil and gas exploration in January 2012. The auction will tender 12…
Iraqi Drilling Firm to Drill 76 Oil Wells in 2011
| January 16, 2011 | Filled under All Dinar Trade Articles |
BASRA, Iraq/ (Reuters) – State-run Iraqi Drilling Company plans to drill 76 wells in 2011 as part of a national effort to boost oil output to more than 200,000 barrels per day, the head of the firm said on Friday. Director Idrees al-Yassiri said the plan included drilling more than 15 wells for Nassiriya oilfield, which would help boost output from…
Schlumberger Wins Iraq Wells Contract
| December 1, 2010 | Filled under All Dinar Trade Articles |
Reuters reported that US oil major ExxonMobil and its partners have awarded a contract to oil services firm Schlumberger to drill 10 wells in Iraq’s West Qurna Phase One oilfield. The sources said that the contract award was finalized a few days ago but a final contract is yet to be signed with Schlumberger. The new wells are part of the…
Halliburton Wins ExxonMobil Contract To Revamp Iraq Field
| October 15, 2010 | Filled under All Dinar Trade Articles |
Halliburton Co. (HAL) said Thursday it has been awarded a contract by ExxonMobil. Corp. ( XOM | PowerRating) to refurbish wells in Iraq’s largest oil field, an important step in the ramp-up of production from the Middle Eastern country’s massive oil reserves. ExxonMobil, the world’s largest publicly-traded oil company, is leading one phase of a two-stage development of the West Qurna…
Iraq Has the Oil Stores, But Does It Have the Know-How?
| October 12, 2010 | Filled under All Dinar Trade Articles |
By Robin Mills – In one dramatic press conference, Hussain al Shahristani, the Iraqi oil minister, last week unveiled almost as much new oil as the entire world uses in a year. By announcing that Iraq’s proved reserves had jumped from 115 billion barrels to 143 billion, he effectively added two Algerias or four Norways to the oil world. But what…
Iraq Eyes Oil Firms Funding for Export Projects
| October 1, 2010 | Filled under All Dinar Trade Articles |
By Rania El Gamal / BAGHDAD, (Reuters) – Iraq has asked international oil firms that won contracts to develop its vast oil reserves whether they are interested in financing the country’s huge crude export infrastructure projects. Iraq’s Oil Ministry is exploring all options to finance its costly export infrastructure plans, including asking oil companies to either contribute funding or to offer…
ExxonMobil, CNPC, and Shell Elected to the Iraq EITI Council
| June 10, 2010 | Filled under All Dinar Trade Articles |
The Iraq Extractive Industries Transparency Initiative (IEITI) hosted a seminar for all its oil operators and buyers in Dubai on 6-7 June. Around 20 companies from Asia, Europe, America, and Africa, participated in the seminar which, for many of them, was a first introduction to the EITI process. The IEITI will be the first to include the publication of revenues from…
The Inspector General in the Ministry of Electricity, Mr Alaa Mohie El-Deen has been appointed as the head of the IEITI National Secretariat and will provide the day-to-day support to the EITI process in Iraq. Following the election of ExxonMobil, CNPC, and Shell to the IEITI Council Mr Mohie El-Deen said: “This seminar has deepened the understanding of all stakeholders on how the companies can best support the IEITI process. The engagement of these companies and the election of these 3 international companies represents a clear step forward in the Iraq process”.
Earlier this year Noori Al-Maliki, Prime Minister of Iraq launched the Iraqi implementation of EITI, the global standard for improved transparency in the oil, gas and mining sector. In February 2010 Iraq was accepted as a Candidate country within the EITI. Iraq has until February 2012 to implement the EITI standard and undergo an EITI Validation in order to become an EITI Compliant country.
For more information about the EITI Council visit the EITI website.
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