Foster Wheeler AG (Nasdaq: FWLT) announced today that the Iraq Crude Oil Export Expansion Project (ICOEE) has achieved its “first oil ready for start-up” milestone. This is a significant step towards Iraq’s planned increase in crude exports….
A new Gulf crude export outlet in Iraq’s southern oil hub of Basra is expected to increase the nation’s exports by around 300,000 barrels of oil per day during the first phase of a broader expansion.
Iraq’s Deputy Prime Minister for Energy Hussain al-Shahristani said on Sunday Total could not sign oil deals with the Kurdistan region without approval, and like other companies the French major would bear the “full consequences” if it did.
Total should not sign oil deals with the Kurdistan region without Iraq’s approval, Deputy Prime Minister for Energy Hussain al-Shahristani said on Sunday, warning the French major would bear the “full consequences” if it did.
Lamprell, the engineering firm for the oil and gas industry, has won a contract connected to the reconstruction of the oil export infrastructure in Iraq.