Cursor International executes projects and collaboration activities across several industries.
By John Lee.
Work has begun on the project to extend the gas pipeline from the Akkas gas field to the Akkas power station, in the Qaim district of Anbar Governorate.
The General Manager of the State Company for Oil Projects (SCOP), Shaker Mahmoud Khalaf, said the pipeline (pictured) will be 35 kilometers in length.
(Source: Ministry of Oil)
The post Work Begins on Akkas Gas Pipeline first appeared on Iraq Business News.
By Ahmed Mousa Jiyad.
Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Iraq-Jordan Oil Pipeline — Financially Costly, Contractually Complex
Since 1983 the Basra-Aqaba, or Iraq-Jordan, oil pipeline (IJOP) has been on and off the screen of the bilateral relation between the two countries.
And from 2011 to date, every Iraqi government had “approved a frame-agreement” relating to the same pipeline, but none of these agreements was published and, thus, nothing known about the terms of these, so claimed, approved agreements!
Scope of the pipeline, route, length, funding, execution, duration and cost have been on a changing course since 2011, but the most dramatic change is the staggering cost, which reportedly, increased from $3 billion to $26 billion between 2016 and 2022!
No surprise, therefore, that this pipeline has been viewed diametrically differently and with absence of full transparency, on the part of the Ministry of Oil (MoO) and its affiliate SCOP, the feasibility of this project remains a pure intelligent guessing.
This article addresses first the different views and what prompted them by recent development and information on the pipeline, then in part two calculates the barrel-cost corresponding to actual pipeline utilization.
Part three examines the re-export options in the comparative, and part four provides cautionary notes on the limitation of cash flow analysis for such a project.
Moving from the quantitative mode to real life environment, part five debates strategic considerations, geopolitical vulnerability and security risks and that is complemented, in part six, by highlighting and identifying the needed contractual and legal modalities; then the article ends with concluding remarks.
Click here to download the full report in pdf format.
Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here.
The post Iraq-Jordan Oil Pipeline: Financially Costly, Contractually Complex first appeared on Iraq Business News.
By John Lee.
The Dhi Qar Oil Company (DQOC) has reportedly said that Litasco, the international marketing and trading company of Russia’s LUKOIL, will finance the doubling of capacity at the Nassiriyah oil field from 100,000 barrels per day (bpd) t0 200,000 bpd.
The project includes a 42-kilometer pipeline, and will be a joint venture between the State Company for Oil Projects (SCOP) and Italy’s Progetti.
(Source: Shafaq)
The post Russian Oil Firm to Finance Nassiriyah Development first appeared on Iraq Business News.
By John Lee.
British-based engineering company Rotork is to supply the Karbala Refinery project in Iraq.
According to a press release from the company, Rotork will provide large quantities of IQ3 non-intrusive intelligent electric valve actuators, designed specifically for automated flow control systems in hazardous environments.
Due to open in 2020, the State Company of Oil Projects’ (SCOP) Karbala Refinery will have a refining capacity of 140,000 barrels of crude oil per day (bpd). Production will meet the latest international standards, serving the growing domestic demand for oil in Iraq and reducing the current level of refined product imports.
(Source: Rotork)