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.

Gazprom to commence development of Kharasaveyskoye field in 2019

17/07/2018 09:23:00

Russian firm Gazprom is planning to commence the full-scale development of the Kharasaveyskoye field located north of Bovanenkovskoye in the Yamal Peninsula, in 2019.


Vattenfall inks power deal with Novo Nordisk, Novozymes

17/07/2018 09:14:00

Swedish utility Vattenfall announced Friday a long-term power purchase agreement with global healthcare company Novo Nordisk and bio innovator Novozymes, both based in Denmark.


Daily (16.07.2018): NBP spot gas price rose by 2.6% on Friday, due to an undersupplied system

16/07/2018 11:34:00

Oil prices hiked on Friday, due to the stoppage in Norway and Iraq, while a decline in supplies from Venezuela influenced the global output. Brent crude soared by 1.2% to $75.33 a barrel. Meanwhile, WTI crude settled 1% higher at $71.01, despite U.S. Secretary of State Mike Pompeo’s statement that Washington would consider granting waivers to Iran's crude buyers.