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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

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    Oil Minister Chevron, Total and PetroChina may form a consortium to develop the Majnoon oil field

    Rocky
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    • Post n°1

    Oil Minister Chevron, Total and PetroChina may form a consortium to develop the Majnoon oil field Empty Oil Minister Chevron, Total and PetroChina may form a consortium to develop the Majnoon oil field

    Post by Rocky Thu 30 Nov 2017, 6:06 am

    [ltr]Oil Minister Chevron, Total and PetroChina may form a consortium to develop the Majnoon oil field[/ltr]

     From 2017-11-30 at 14:14 (Baghdad time)
    [ltr][You must be registered and logged in to see this image.][/ltr]
    [ltr]Follow up of Mawazine News[/ltr]
    [ltr]Iraqi oil minister Jabbar al-Allaibi said in Vienna Thursday that Chevron, Total and PetroChina could form a consortium to develop the Majnoon oil field, which Royal Dutch Shell wants to exit.[/ltr]
    [ltr]Royal Dutch Shell plans to get out of a madman and hand over its operations to the state-run Basra Oil Company by the end of June 2018.[/ltr]
    [ltr]Al-Allaibi's comments came on the sidelines of his participation in the OPEC meetings devoted to the extension of the agreement to reduce production.[/ltr]
    [ltr]"We will be discussing whether we will review the extension of OPEC's agreement to cut output by 9 months," al-Laibi said.[/ltr]
    [ltr]The Iraqi oil minister pointed out that the main factors of the review are the changes in the market and prices.[/ltr]
    [ltr]The positions of oil ministers in OPEC member countries varied. The UAE minister of energy said the 9-month extension was one of the options and we would need to discuss other options.[/ltr]
    [ltr]While Iran's oil minister said $ 60 a barrel was a good price for Brent crude.[/ltr]
    [ltr]Kuwait's oil minister said it was too early to talk about an exit strategy from the deal, while Kuwait's oil minister confirmed support for an extension of the cut-off agreement until the end of 2018.[/ltr]
    [ltr]For his part, Algerian Oil Minister said: I support the extension of production cuts until the end of next year.[/ltr]
    [ltr]Opec sources said the organization and its non-member producers will apparently agree at a meeting on Thursday to extend the oil production cut-off agreement until the end of 2018, as the group seeks to get rid of crude supplies and avoid price collapse again.[/ltr]
    [ltr]A last-minute debate on the wording of the expected statement is still likely, while non-OPEC member Russia is pressing for a clear message on how to end the cuts so as to avoid a frantic rise in prices if there is a short supply shortfall soon. very.[/ltr]
    [ltr]"They will agree on the (extension) for nine months," an OPEC delegate said, adding that the meeting, scheduled to start around 0900 GMT, was expected to go smoothly.[/ltr]
    [ltr]"No surprises," a second source said. "Everyone supports nine months."[/ltr]
    [ltr]Two other sources made similar comments. The OPEC meeting will be followed by another meeting of the organization and independent producers led by Russia around 1400 GMT.[/ltr]
    [ltr]The Organization of the Petroleum Exporting Countries (OPEC) and Russia have indicated that they may retract any extension of the deal when they meet again in June if the market is experiencing feverish rises.[/ltr]
    [ltr]With oil prices above $ 60 a barrel, some fear that such an extension could lead to an increase in crude production in the United States that is not part of the agreement.[/ltr]


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