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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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    A giant oil company plans to separate its operations in Iraq

    Rocky
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    • Post n°1

    A giant oil company plans to separate its operations in Iraq Empty A giant oil company plans to separate its operations in Iraq

    Post by Rocky Sat 12 Jun 2021, 7:10 am

    A giant oil company plans to separate its operations in Iraq

    •  Time: 06/12/2021 01:00:58
       
    •  Reading: 5,499 times

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    {Economic: Al Furat News} The British oil company "BP" plans to separate its operations in Iraq to be an independent company, while seeking to shift its focus to low-carbon investments, according to "The Wall Street Journal", quoting informed sources, on Friday.
    The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
    The newspaper stated that the new company will own the right that BP has in the Rumaila field, one of the largest oil fields in the world in southern Iraq, and will also be owned in partnership with the China National Petroleum Corporation, which is one of BP's partners in the field.
    In order to proceed with its plans, the British oil company will first need to secure an agreement with the Iraqi government's Basra Oil Company and the Iraqi National Oil Marketing Company "SOMO", which are part of the Rumaila operating system.
    The informed sources said that the move aims to give BP more flexibility to invest in low-carbon energy by enabling it to reduce its spending on oil and gas.
    The sources added that BP's plan for its operations in Iraq is very similar to what it announced recently for its operations in Angola.
    Last May, BP and Italy's Eni entered talks to merge their oil and gas operations in Angola to establish a company that would be one of the largest energy companies in Africa.
    And "BP" is the largest oil company operating in Iraq, investing in the Rumaila oil field, which produces 1.5 million barrels per day, equivalent to 30 percent of Iraq's daily production.
    The company has a rich history in Iraq, having entered the country since the 1920s. In 2009, it was the first international oil company to return to Iraq after 2003.
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