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.

Total invests in solar, EREN and GreenFlex, aiming renewables growth

20/09/2017 13:36:00

Total increases its share in renewables by investing in solar and wind energy producer EREN RE and energy efficiency company GreenFlex.


Daily (20.09.2017): WTI crude price dipped to $49.48 a barrel on increased U.S. shale production

20/09/2017 10:47:00

Oil markets dipped on Tuesday, influenced by increasing U.S. shale production and worries that another hurricane hitting the Caribbean could affect refineries and disrupt delivery to and from the United States.


9 Traits of Highly Effective Energy Consultants [Infographic]

20/09/2017 10:30:00

Procuring energy and managing related risks presents businesses with unique challenges unlike any other goods or services they purchase. Besides, energy commodity prices can be extremely volatile. They can go up and down and are susceptible to unpredictable price increases. They’re also governed by a complex set of rules and inter-relationships.