Iraq’s government has approached international oil companies operating some of its largest oilfields to reduce production further and they have agreed, Reuters reports, citing an unnamed source from the industry.. An earlier report by Bloomberg said Baghdad had asked BP, which operates the giant Rumaila field in the southern part of the country, by another 10 percent. Jobs Companies Upload/Build a CV. To make a healthy return against the enormous capital costs of setting up shop (rigs, pipelines, storage tanks and drilling operations etc. 7: Rate It. Limited Liability Company. The company postponed taking action against the buyers of the nationalized oil, and Iraq vigorously pushed sales to state companies in Brazil, Japan, Ceylon, and elsewhere, including more deals with Eastern European countries. Big oil companies may have to give up Iraq gas . As Geerman world best Engine Oil SRS brand started to sell in Iraq exclusively by MESAN lube & petrochemicals since 2009 More : Oil & Gas Industry: Seven Seas Petroleum Products Trading Co., LTD. Iraq Baghdad. Oil Companies Hold Down Production in Iraq. The documents added that "foreign companies' involvement seems to be the only possible solution" to make Iraq a reliable oil exporter. 12573 | This Week Views. Escalating protests disrupt Dhi Qar energy sector . Competitive salary. Iraq plays a central role in a Company’s strategy of increasing oil production abroad. Publishing date: Aug 29, 2011 • August 29, … For decades before the invasion, the industry had been in the hands of the state-owned Iraq National Oil Company. Iraq … Classification(s) : ENGINEERS - CONTRACTING / OILFIELD SERVICE COMPANIES. P.O.Box 27093, Iraq … Email. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed by the merger of Exxon and Mobil. Five missiles fired at ‘American’ oil company in Iraq - Iranian media The alleged rocket attack fits a pattern of dozens of rocket attacks on bases housing US troops and against the embassy. Verified employers. In addition to BP, Chevron, and ExxonMobil, foreign oil companies including Eni, Rosneft, Lukoil, Gazprom, CNPC, CNOOC, and Total also operate in the now restive region, among others. Iraq's SOMO, the state oil marketing company… Control of Reserves. WEST QURNA-2. Free, fast and easy way find a job of 772.000+ postings in Iraq and other big cities in USA. The preferred path for foreign oil company investment in Iraq was through Production Sharing Agreements (PSAs). To fund this enterprise, Iraq Oil Report depends on revenue from both advertising and subscriptions. A list of Oil & Gas Companies in Erbil. 39 And a longtime industry observer said: "There is not an oil company in the world that doesn‘t have its eye on Iraq." Dalil Iraq Political upheaval and unabated protests have once again boiled over, shutting down the Nassiriya refinery and causing fuel shortages. The Iraq National Oil Company (INOC) was founded in 1966 by the Iraqi government. Oil companies' future profits – and their current share prices and market capitalization – depend to a large degree on their control of reserves. Al Weeam Oil & Technical Services Co Ltd. P.O.Box 3773, Iraq +964 1 7192736 +964 1 7192736 +964 1 7174102. It was empowered to operate all aspects of the oil industry in Iraq except for refining which was already being run by the Oil Refineries Administration (1952) and local distribution which was also already under government control. EIA's oil industry experts generally assessed Iraq's sustainable production capacity at no higher than about 2.8-2.9 million barrels per day, with a net export potential of around 2.3-2.5 million barrels per day. LUKOIL has been looking at opportunities of expanding our business in Iraq since late 1990’s, when an agreement had been reached with the then government of Iraq to develop the West Qurna field. Iraq’s national oil companies are audited by the Iraqi Board of Supreme Audit (BSA) based on local Iraqi accounting standards. Iraq has confirmed it has struck a deal with a Chinese company to supply it with crude oil and earn an advance payment of $2 billion. Nail Maganov, General Director […] Fields in Iraq: Rumaila, Kirkuk. Since then the BSA’s standards have been updated, but not in accordance with the IAS. By John Lee. For example, in 2009, the Russian company Lukoil won one of the first oil contracts in postwar Iraq, for the West Qurna-2 development project in … Iraq also claims that oil production capacity expansion has been constrained by the refusal of the United Nations to provide Iraq with all the oil industry equipment it has requested. Iraq’s first stab at opening its oil industry to foreign investment ended in disappointment at an auction in June in which most companies declined to bid. On a recent visit to the Russian republic of Tatarstan, Iraq's Oil Minister Ihssan Abdul-Jabbar Ismail attended a presentation that the headquarters of the oil company Tatneft. Some of our advertisers and subscribers ‐ including companies, governments, and NGOs ‐ are also subjects of our reporting. 40. Political support for Iraq was strong in some parts of the Middle East, especially in Algeria and Libya. Total Views. Exxon is the lead contractor in a project to redevelop the West Qurna I oil field in southern Iraq. In 2010 LUKOIL became an operator of one the world’s largest oilfields – West Qurna-2. Ali Khalid ISA. Name: ExxonMobil Based in: United States ExxonMobil is an American multinational oil and gas corporation headquartered in Irving, Texas, and the largest of the world's 'supermajors'. By John M. Blair The following is an excerpt from The Control of Oil (New York: Pantheon, 1977). This history stretches right back to the 1920s when the company that would eventually come to be known as BP helped Iraq locate, produce and export oil from Baba Gurgur, Kirkuk. Kurdistan accounts for 43.7 billion barrels of proven oil reserves, 25.5 billion more barrels of unproven reserves and between 3 and 6 trillion cubic meters of gas (30% of Iraq's proven oil reserves). From the company's website: BP has a long history of oil exploration and production in Iraq. The company kept a monopoly of Iraq's oil sector until nationalization in 1972. To the fury of the Iraqis and the French, it held down production to maximize profits elswhere. When originally developed in the 1980s, these standards were based on International Accounting Standards (IAS). In this excerpt, John Blair shows how the US and UK companies held down production in their Iraq concessions, in order to maximize their worldwide profits. Full-time, temporary, and part-time jobs. 42 Oil and Gas jobs in Iraq Explore Oil & Gas Jobs using Simple / Advanced search options Choose from Job types & Categories Get the best job → Apply now! The powerful Iraq Petroleum Company, in which US and French firms held minority positions, acted always in the cartel interests of the Anglo-American companies. Classification(s) : OILFIELD SERVICE COMPANIES / PIPELINE SERVICES & SUPPLIES. The director general of Iraq's state-run drilling company discusses plans to help the country boost production in an era of higher oil prices and loosening OPEC constraints. Job email alerts. Search and apply for the latest Oil company jobs in Iraq. Many of the world's biggest energy companies may have to surrender most of the gas from Iraq's vast southern oilfields to a processing and export project led by Shell, a final draft contract between Baghdad and Europe's biggest company, obtained by Reuters, shows . Including contact details, address, phone, email and more. Iraq +964 1 5426229 +964 1 5426229 +964 1 5412779. Including contact details, address, phone, email and more. If Kurdistan was a country, the amount of oil and gas reserves would place it among the top 10 oil rich countries in the world. The Iraqi delegation also visited the Taneco Oil Refining Complex, the Kama Tyres manufacturing plant, and the Nizhnekamsk Truck Tyre Factory. Fields in Iraq: Granted by the Ministry of […] Iraq's large oil reserves have attracted attention from the United Kingdom, a country with a high demand for (and a low supply of) oil.British involvement in the Iraqi oil industry dates to World War I.Political influence in the region has given the UK the power to establish a number of oil companies in Iraq. Al Qabas Oil Services Company. Hundreds of protesters in southern Iraq yesterday closed three bridges in the city of Nasiriyah, the capital of Dhi Qar Governorate, and the Maysan Oil Company … Author of the article: Reuters. Iraq has decided to freeze its first crude oil prepayment deal, which had aimed to boost its finances, because oil prices are rising, the country's oil minister told BBC Arabic on Sunday. The lead contractor in a company ’ s strategy of increasing Oil production abroad been the! ( PSAs ) PIPELINE SERVICES & SUPPLIES ( s ): OILFIELD SERVICE companies big Oil companies are by... 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