Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-07-04 17:25:00

KURDISTAN OIL PRODUCTION GROWS

KURDISTAN OIL PRODUCTION GROWS

Oil explorer Genel Energy PLC, headed by ex- BP PLC chief Tony Hayward, said Thursday its oil production in Kurdistan surged last month, in part thanks to a controversial export pipeline to Turkey.

The pipeline has allowed the Kurdistan Regional Government in the semiautonomous region of northern Iraq to increase oil exports via Turkey. Although the central government in Baghdad disputes the Kurdish government's right to sell the oil directly, proceeds from the first cargo, sold at international prices, have been paid into a bank account in Turkey controlled by the KRG, Genel said.

In June, the KRG said that 1 million barrels of its oil piped through the Turkish power of Ceyhan was safely delivered to buyers. The KRG declined to say who the buyers were. Only one cargo has been delivered to a buyer in Israel. Another three cargoes are still floating in the Mediterranean.

Genel's Chief Executive Tony Hayward said that piped oil exports from Kurdistan may have hit some snags along the way, but they are likely to grow in the second half of the year.

"Has it been without a few bumps in the road? Well, of course it hasn't; it's a whole new process and you wouldn't expect it to. But given the context, it's going quite well actually," Mr. Hayward said in a telephone interview.

"My expectation is that this process will bed down and we will see continued oil flowing out of the pipeline and continued tankers being loaded and money being received," he added.

Earlier Thursday, Genel reported a 50% increase in net production for the first half of 2014 to 63,000 barrels of oil equivalent a day and said it would meet its production and revenue targets for the year.

Output net to the company from fields in Kurdistan averaged 84,000 boepd in June because of exports via the pipeline, trucked exports via Turkey, strong domestic demand and an increase of gas deliveries to a power station in Kurdistan, Genel said.

Genel maintained its 2014 production guidance at 60,000-70,000 boepd and revenue forecast at $500 million-$600 million.

wsj.com

Tags: KURDISTAN, OIL, IRAQ, BP, GENEL, ENERGY

Chronicle:

KURDISTAN OIL PRODUCTION GROWS
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

KURDISTAN OIL PRODUCTION GROWS
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

KURDISTAN OIL PRODUCTION GROWS
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

KURDISTAN OIL PRODUCTION GROWS
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

All Publications »