Established in 2006 as a Community of Reality

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Neno's Place Established in 2006 as a Community of Reality


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I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Oil decides to postpone the licensing phones to next Thursday

    Rocky
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    • Post n°1

    Oil decides to postpone the licensing phones to next Thursday Empty Oil decides to postpone the licensing phones to next Thursday

    Post by Rocky Mon 23 Apr 2018, 2:52 pm

    Oil decides to postpone the licensing phones to next Thursday




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    The Ministry of Oil said in a press statement that it would submit contracts for exploration and development to global energy companies wishing to do so on Thursday .
    The oil ministry is offering 11 new plots in the border areas with Iran, Kuwait and the Gulf waters .
    The Ministry of Oil said on April 14 that 14 companies expressed the desire to participate in the tour of offers .
    Oil companies' bids will be received at the ministry's headquarters from 10:00 a.m. (0700 GMT) on Thursday and the results will be announced later that day, it said in a statement on Monday .
    This is the third time that bids have changed. The patches were originally scheduled for June, but the date was changed to April 15 and 25 of the same month to give the bidders more time, the Oil Ministry said at the time .
    The ministry announced last month measures to reduce fees paid to oil companies in the contracts offered .
    The new contracts would exclude the by-products of corporate revenues, link the prevailing crude prices with the value of compensation, and introduce a fee element .
    Oil companies operating in Iraq are currently receiving government fees linked to increases in production, which include crude and by-products such as LPG .
    Iraq, OPEC's second largest oil producer after Saudi Arabia, decided to change contracts after a supply crunch led to oil prices falling in 2014, limiting Baghdad's ability to pay those fees .
    Companies such as BP, Exxon Mobil, Eni, Total, Royal Dutch Shell and Lukoil helped boost Iraq's production over the past decade by more than 2.5 million bpd to about 4.7 million bpd .
    Iraq's semi-autonomous Kurdistan Regional Government (KRG) produces oil and gas from fields it controls in the north of the country under a more profitable production-sharing model .
    Baghdad's new contracts will also set time for companies to stop burning gas from their oilfields .
    Iraq continues to burn some of the gas associated with crude oil extracted in the fields because of lack of possession of the facilities and tools to address and turn it into fuel .
    Iraq hopes to end the incineration of associated gas by 2021. According to the World Bank, the practice costs the government about $ 2.5 billion in revenue per year and could cover most of the country's unmet needs for gas-produced electricity .

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