Iraq’s Majnoon oil field is of no interest to Shell

14/09/2017 11:24 Oil Market


Shell wants to sell its share in Iraq’s Majnoon oil field after both parties failed to reach an agreement on future production plans and investment budgets, as stated by Reuters on Wednesday.


In an official letter to Shell, the Iraq oil minister stated its respect for Shell’s decision to put an end to Shell Iraq Petroleum Development SIPD’s interest in Majnoon.  

The authenticity of the letter has been confirmed by three local oil officials and a senior engineer working at Majnoon with Shell. 

In November last year, Shell started to think about going out from Iraqi oil fields by selling its 45 percent stake in the Majnoon field, nevertheless with the intention to keep its natural gas fields in Iraq.


The oil production in Majnoon commenced in 2014 and, according to Shell’s website, the output represents an average of 210,000 bpd at present, which is 25,000 bpd less than the figures offered by Iraqi oil officials.

UK-Canada instituted an alliance to end up high coal use

17/11/2017 16:06:00

Great Britain and Canada have launched a global coalition to put an end to the high exploitation of coal.


Russia and Philippines will cooperate in nuclear field

17/11/2017 15:43:00

Russia will support Philippines in designing national policies in the nuclear energy field according to a memorandum of cooperation (MoC) inked on 13 November. The collaboration will consist of feasibility studies on the building of small modular reactors.


IEA: Global energy needs to be met by renewables and natural gas in the next 25 years

17/11/2017 15:30:00

According to the World Energy Outlook 2017, the abundant growth in oil and gas production from the United States, strong reductions in the cost of renewables and emerging electrification are changing the global power system and ending traditional ways of meeting demand. Meanwhile, a greener and more diversified energy mix in China is another important driver of this transformation.