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BP get more Iraqi oil in lieu of dues
4/20/2015
Twilight News / senior executive at BP said Monday that the major British oil company shipped more Iraqi crude in the last two months instead of its dues in the south of the country and expressed satisfaction with the level of shipments. And payment of falling oil prices and fight al Daash Baghdad to delay payments of billions of dollars owed to international oil companies and then was to allow companies access to oil shipments in lieu of dues. Said Michael Townshend head of BP operations in the Middle East that the total current production from Rumaila giant oil field in Iraq amounts to about 1.4 million barrels per day and is expected to remain stable in 2015. He told reporters in Abu Dhabi "for our position in the Rumaila increased payments .. I'm relieved to level", as quoted by Reuters and seen by "Twilight News". He added, "We took shipments in return ... whether from Ceyhan or from the south ... we definitely got more shipments in the last two months." He gave no further details about the shipments. He added that BP also extended an agreement with the Iraqi Oil Ministry to help stop the decline in production from the huge Kirkuk field. The field is currently replace a dispute between the federal government in Baghdad and the Kurdistan Regional Government.
He went on, "We signed a letter of intent for a year and Mddnah until the end of this year because of the period in the last year where we could not accomplish anything productive."
Under the agreement, BP is working on the subject of the Department of Baghdad side of the border with Kurdistan Region in reservoirs Baba briefing. The third reservoir in Kirkuk, a Khormalp is dominated by the Government of the Territory.
BP conducts global oil companies and other talks with Baghdad on a technical service whereby the evolution of the southern fields agreements. The foreign companies to pump investments in the fields is supposed to receive a fee against which each barrel.
But falling oil prices made it difficult for the government in Baghdad that suffer from lack of financial liquidity to meet its obligations.
He said Finance Minister Hoshiyar Zebari in March that Baghdad plans to change the way it manages its exploration and production contracts with companies such as Royal Dutch Shell, BP and Exxon.
And possibly pay that Iraq eventually to production sharing contracts in which the revenue sharing and the abandonment of service under which companies receive specific fees decades.
Townshend said that international oil companies provided some of the proposed amendments to the contracts to the Iraqi Oil Ministry.
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4/20/2015
Twilight News / senior executive at BP said Monday that the major British oil company shipped more Iraqi crude in the last two months instead of its dues in the south of the country and expressed satisfaction with the level of shipments. And payment of falling oil prices and fight al Daash Baghdad to delay payments of billions of dollars owed to international oil companies and then was to allow companies access to oil shipments in lieu of dues. Said Michael Townshend head of BP operations in the Middle East that the total current production from Rumaila giant oil field in Iraq amounts to about 1.4 million barrels per day and is expected to remain stable in 2015. He told reporters in Abu Dhabi "for our position in the Rumaila increased payments .. I'm relieved to level", as quoted by Reuters and seen by "Twilight News". He added, "We took shipments in return ... whether from Ceyhan or from the south ... we definitely got more shipments in the last two months." He gave no further details about the shipments. He added that BP also extended an agreement with the Iraqi Oil Ministry to help stop the decline in production from the huge Kirkuk field. The field is currently replace a dispute between the federal government in Baghdad and the Kurdistan Regional Government.
He went on, "We signed a letter of intent for a year and Mddnah until the end of this year because of the period in the last year where we could not accomplish anything productive."
Under the agreement, BP is working on the subject of the Department of Baghdad side of the border with Kurdistan Region in reservoirs Baba briefing. The third reservoir in Kirkuk, a Khormalp is dominated by the Government of the Territory.
BP conducts global oil companies and other talks with Baghdad on a technical service whereby the evolution of the southern fields agreements. The foreign companies to pump investments in the fields is supposed to receive a fee against which each barrel.
But falling oil prices made it difficult for the government in Baghdad that suffer from lack of financial liquidity to meet its obligations.
He said Finance Minister Hoshiyar Zebari in March that Baghdad plans to change the way it manages its exploration and production contracts with companies such as Royal Dutch Shell, BP and Exxon.
And possibly pay that Iraq eventually to production sharing contracts in which the revenue sharing and the abandonment of service under which companies receive specific fees decades.
Townshend said that international oil companies provided some of the proposed amendments to the contracts to the Iraqi Oil Ministry.
[You must be registered and logged in to see this link.]
