The natural resources minister of Iraq’s Kurdistan has said the region is ready to export oil at a rate of 100,000 barrels per day (bpd) through neighbouring Turkey, Aswat al-Iraq has reported. “Oil exportation from Kurdistan will start as soon as a new Iraqi government is formed,” Ashti Horami was quoted as saying. Exports could rise to 500,000bpd by the end of the year Horami said.
Browsing Posts published by admin
Qatar has expressed interest in developing gas fields on Yamal, a Russian peninsula near the Arctic Ocean with enough gas in the ground to satisfy world demand for five years, Reuters has reported. State-run Russian gas export monopoly Gazprom said that it had discussed the “high potential” for deals with state oil firm Qatar Petroleum in LNG, as well as pipeline gas supplies to Europe and the Asia-Pacific region. “The Qatari side expressed interest in projects to develop complex deposits on the Yamal peninsula, including the Yamal-LNG project,” Gazprom said in a statement.
Salem Shaheen, CEO of Saudi Aramco Total Refining and Petrochemical Co has said that Saudi Aramco and Total expect to raise $8bn in debt financing for the joint refinery and petrochemical project in the “coming months,” Bloomberg has reported. The 400,000 barrel-a-day refinery in Jubail on Saudi Arabia’s Gulf coast will cost more than $12bn, he said, noting that this, including financing expenses, will also be funded by Saudi Arabia which will contribute more than $1bn to the project, and by the partners’ equity.
The Iraqi oil ministry has said the country has made $4.23bn in revenues from exporting 57.9 million barrels of crude oil last February at the price of $73 a barrel, Aswat al-Iraq has reported. A total of 45.2 million barrels have been exported from Basra oilfields and 12.7 million barrels from Kirkuk, the ministry said.
Abu Dhabi Co for Onshore Oil Operations (ADCO) has awarded UAE-based National Petroleum Construction (NPCC) a $560m contract to develop the first phase of the new Qusahwira Field located south east of the UAE capital, Wam has reported. The project includes construction of a new central degassing station, remote degassing station, oil gathering system, production supporting systems and the main oil line to Asab Field. The Qusawhira phase 1 calls for adding 30,000 BOPD sustainable by 2013 to achieve ADCO’s target of the 1.8 MMBOPD.
Prepaid cards offer a secure alternative to cash for both corporate customers and consumers. Phil Blizzard talks to Scott Salmon, Head of Global Market Development, Prepaid Products, Visa about the dynamics driving their growth.
With buyers from right across the Middle East Sunseeker luxury yachts are seeing significant growth in this region, according to Francesco Pitea, GM, Sunseeker Middle East LLC in this interview with Phil Blizzard at the Dubai International Boat Show. He also says that the sale of the large yachts had not been affected by the economic slow and this show signals a new era of growth.
Iraq: Sami al-Araji, the head of Iraq’s National Investment Commission has said that one million housing units will be constructed by the commission across the country, Aswat al-Iraq has reported. “The cabinet decided to double the number of housing units to one million after 100 specialized foreign companies had expressed their willingness to invest in the (housing) sector,” al-Araji was quoted as saying. Iraq needs two million housing units, according to a five-year plan drawn up by the investment commission for the years 2010-2014. [AMEInfo.com]
Iraq: The natural resources minister of Iraq’s Kurdistan has said the region is ready to export oil at a rate of 100,000 barrels per day (bpd) through neighbouring Turkey, Aswat al-Iraq has reported. “Oil exportation from Kurdistan will start as soon as a new Iraqi government is formed,” Ashti Horami was quoted as saying. Exports could rise to 500,000bpd by the end of the year Horami said. [AMEInfo.com]
Iraq: German carrier, Lufthansa has said that it will resume flights to Iraq on April 25. The new route will offer four weekly flights to Erbil in Northern Iraq from Frankfurt. Lufthansa will operate the four-and-a-half hour flight with an Airbus A319 with 132 seats in Business and Economy Class. The airline said it is preparing to resume flights this summer to the Iraqi capital Baghdad. [AMEInfo.com]
