For the first time the Iraqi federal budget for 2010 legislated Jan.26 includes allocations that will see the wealth redistributed among regions and governorates in a bid to make those who produce the oil benefit from it directly, while at the same time compensate them for the environmental damage suffered as a result of the oil and gas operations. That must be a first in the history of Iraq as…
Tag: LPG
Shell Inks Iraqi Gas Deal in Baghdad
23 September 2008 Royal Dutch Shell and Iraq on Monday inked a heads of agreement (HOA) to establish a joint venture to gather, process and market associated natural gas from southern Iraq, and plan to sign a definitive multibillion-dollar deal within a year, Iraqi and industry sources said. Officials from Shell’s gas and power division, headed by Executive Director Linda Cook, traveled to Baghdad on Monday for the signing ceremony,…
Iraq, Shell Target Summer Gas JV Deal
30 April 2008 The Iraqi oil ministry and Royal Dutch Shell aim to sign a preliminary agreement this summer to establish a joint venture to exploit associated gas and channel it for domestic use and export for at least 20 years, Iraqi and industry sources told International Oil Daily this week. Plans include building LNG export facilities. Industry sources estimate investment of $2 billion-$5 billion would be required over the…
Iraqi Officials Take Initiative Restarting Oil
23 April 2003 The first Iraqi oil production since the fall of Saddam Hussein’s regime is set to restart next week from the northern Kirkuk complex, but would be limited to supplying the domestic market in terms of crude for refineries and natural gas for power stations, according to a senior Iraqi official. The plans show Iraqi officials taking the initiative on this and other aspects of the war-damaged oil…