Iraqi Oil Minister Shahristani said on the 12th, although the central government approved the use of the Kurdish autonomous region of the country plans to export crude oil pipeline, but prior to the Kurdish regional government signed with some foreign oil companies oil contracts are still "not lawful".
Shahristani in an interview with Iraq's official television station, said that the Iraqi Ministry of Oil that these contracts illegal, because the Kurdish autonomous region in the signing of contracts with foreign oil companies when the "no consultation with the central government."
The approval of the Government of Iraq on the 10th of the Kurdish autonomous region through the national oil pipeline to the Turkish Mediterranean port of Ceyhan oil export plan on June 1 formally implemented. By mutual agreement, exports of crude oil from Iraq's State Oil Marketing Bureau is responsible for sales. The proceeds of oil exports to Iraq under the unified management of the federal account, by all Iraqis share.
Kurdish autonomous region in northern Iraq of Kurds from the provinces inhabited by the composition. Since 2003, the Kurdish regional government in the absence of consultation with the Iraqi central government, the foreign oil companies have already signed and more than 20 oil production sharing contract, has aroused the dissatisfaction of the central government, but that the Kurdish autonomous region in accordance with the Constitution of Iraq, they have a certain right to manage internal affairs, including oil production fields.
May. 13, 2009
South Korea 810 million U.S. dollars to set up energy resources fund
May 11 report in Seoul, South Korea said here today that the Department of Energy, South Korea plans to set up a 1 trillion won (809.7 million U.S. dollars) to the energy resources of the Fund to obtain energy resources from overseas, from overseas, including access to energy resources from minerals to oil and gas fields.
South Korea Department of Energy said in a statement, the Korean efforts to improve energy self-sufficiency rate of energy resources as part of plans to fund state-run Korea National Oil Corporation of Korea (KNOC) and Korea Resources Corporation (KORES) where to raise the early ₩ 110,000,000,000 before investment, as well as from the private fund to attract investment ₩ 890,000,000,000.
Korea National Oil Company are the leading Korean companies in search of crude oil and natural gas overseas, and Korea Resources Corporation for the overseas including a variety of minerals including coal.
South Korea said the Department of Energy, energy resources, funds will be used to purchase shares of overseas energy projects in the oil fields currently under production, as well as the acquisition of foreign access to shares of energy companies.
Source: www.in-en.com May. 12, 2009
South Korea Department of Energy said in a statement, the Korean efforts to improve energy self-sufficiency rate of energy resources as part of plans to fund state-run Korea National Oil Corporation of Korea (KNOC) and Korea Resources Corporation (KORES) where to raise the early ₩ 110,000,000,000 before investment, as well as from the private fund to attract investment ₩ 890,000,000,000.
Korea National Oil Company are the leading Korean companies in search of crude oil and natural gas overseas, and Korea Resources Corporation for the overseas including a variety of minerals including coal.
South Korea said the Department of Energy, energy resources, funds will be used to purchase shares of overseas energy projects in the oil fields currently under production, as well as the acquisition of foreign access to shares of energy companies.
Source: www.in-en.com May. 12, 2009
Saudi Arabia cut spending 5-year energy plan
According to "Arab business newspaper" Riyadh reported that the "Middle East Economic Survey" (MEES) 5 on 9 story said that the world's largest oil exporter Saudi Arabia, recently revised its 5-year energy plan and the plan to cut expenses.
According to "Middle East Economic Survey," said Saudi Arabia has postponed the implementation of several important energy projects, including Hasbah sea Shaybah gas field development projects, as well as natural gas liquids (GTL) project.
"Middle East Economic Survey," failed to indicate whether it is an where to obtain this from a number of important energy-related project delays in the implementation of the message, but he added that the Saudi National Oil Company (Saudi Aramco) is also intended to substantially reduce the Maintain Potential project expenditure.
According to MEES, the said, including Nissan's 1.2 million barrels of oil, including oil Safaniyah the Maintain Potential project investment will be reduced by half this year, down to about 500 million U.S. dollars, next year will be reduced to 400 million U.S. dollars.
Source: www.in-en.com May. 11, 2009
According to "Middle East Economic Survey," said Saudi Arabia has postponed the implementation of several important energy projects, including Hasbah sea Shaybah gas field development projects, as well as natural gas liquids (GTL) project.
"Middle East Economic Survey," failed to indicate whether it is an where to obtain this from a number of important energy-related project delays in the implementation of the message, but he added that the Saudi National Oil Company (Saudi Aramco) is also intended to substantially reduce the Maintain Potential project expenditure.
According to MEES, the said, including Nissan's 1.2 million barrels of oil, including oil Safaniyah the Maintain Potential project investment will be reduced by half this year, down to about 500 million U.S. dollars, next year will be reduced to 400 million U.S. dollars.
Source: www.in-en.com May. 11, 2009
Chavez said oil companies have taken over the "historic significance"
Venezuelan President Hugo Chavez said on the 8th, the Government has already started to take over a group of oil companies, it has "historical significance."
Chavez was in the Lake Maracaibo region of Venezuela, the state-owned oil inspection is carried out to take over the operations of local oil workers said: "The cost of a barrel of oil production was 50 percent of those contracts before the contractor to take , into its own pockets. capitalists have most of the profits away. Now we have to reduce the number of oil companies, at the same time we will also reduce the production costs. In this way, the profits will stay in the workers here. "
On the 7th National Assembly of Venezuela approved a bill allowing the Government to take over a group of oil companies, and to permit the Government to replace the bond in cash, the compensation of the oil companies into receivership. The nature of the Venezuelan state-owned oil company to start on the 8th to take over the oil-producing area of Lake Maracaibo oil contractors were originally part of the 300 ships and other transportation equipment, but also will receive the 8000 employees involved.
Source: www.in-en.com May. 10, 2009
Chavez was in the Lake Maracaibo region of Venezuela, the state-owned oil inspection is carried out to take over the operations of local oil workers said: "The cost of a barrel of oil production was 50 percent of those contracts before the contractor to take , into its own pockets. capitalists have most of the profits away. Now we have to reduce the number of oil companies, at the same time we will also reduce the production costs. In this way, the profits will stay in the workers here. "
On the 7th National Assembly of Venezuela approved a bill allowing the Government to take over a group of oil companies, and to permit the Government to replace the bond in cash, the compensation of the oil companies into receivership. The nature of the Venezuelan state-owned oil company to start on the 8th to take over the oil-producing area of Lake Maracaibo oil contractors were originally part of the 300 ships and other transportation equipment, but also will receive the 8000 employees involved.
Source: www.in-en.com May. 10, 2009
The first quarter of this year, Russia's largest oil company losses
Russia's largest oil companies - Russian oil company recently announced first quarter of this year the company lost 5.77 billion rubles (about 33 rubles 1 U.S. dollars).
According to Russian News Agency reported, in accordance with Russian accounting standards, the Russian oil company losses in the first quarter this year, 5.77 billion rubles, the fourth quarter of last year's loss of 65 billion rubles has reduced by 90%. The first quarter of last year, Russian oil companies to achieve a net profit of 6.5 billion rubles.
Russian oil companies reported previously announced, the company's 2008 net profit of 141.31 billion rubles for the more than 2007, a decrease of 12.8%. Russian oil companies for oil production last year's 110.1 million tons, representing an increase of 9% a year. The company expects this year's oil production to 112.3 million tons.
Source: www.in-en.com May. 9, 2009
According to Russian News Agency reported, in accordance with Russian accounting standards, the Russian oil company losses in the first quarter this year, 5.77 billion rubles, the fourth quarter of last year's loss of 65 billion rubles has reduced by 90%. The first quarter of last year, Russian oil companies to achieve a net profit of 6.5 billion rubles.
Russian oil companies reported previously announced, the company's 2008 net profit of 141.31 billion rubles for the more than 2007, a decrease of 12.8%. Russian oil companies for oil production last year's 110.1 million tons, representing an increase of 9% a year. The company expects this year's oil production to 112.3 million tons.
Source: www.in-en.com May. 9, 2009
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