• 9 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes The EU Loses The Principles On Which It Was Built
  • 19 minutes Batteries Could Be a Small Dotcom-Style Bubble
  • 7 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 6 hours Saudi Fund Wants to Take Tesla Private?
  • 8 hours Starvation, horror in Venezuela
  • 6 hours Corporations Are Buying More Renewables Than Ever
  • 11 hours Are Trump's steel tariffs working? Seems they are!
  • 10 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 12 hours China still to keep Iran oil flowing amid U.S. sanctions
  • 12 hours Is NAFTA dead? Or near breakthrough?
  • 1 hour Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 3 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 2 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 3 hours Film on Venezuela's staggering collapse
  • 8 hours The Discount Airline Model Is Coming for Europe’s Railways
Alt Text

U.S., China Trade War Puts A Lid On Oil

Negative signs for demand have…

Alt Text

Who Profits From Iran’s Oil Major Exodus?

As sanctions on Iran move…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory – 2nd April 2015

Kurdistan Oil Update

• Gazprom Neft Middle East is preparing to conduct a 2D seismic survey on the southeastern section of the Halabja block. The seismic equipment is en route from another section of the block, where seismic has already been conducted. The first exploration well here will be drilled within a year, with vague references to 2015/2016. This is one of four Gazprom Neft projects in Iraq; and one of three in the Kurdistan Region of Iraq.

• Gulf Keystone Petroleum Ltd, which operates the Shaikan field in Kurdistan, has resumed production and truck loading operations at its two production facilities here. The back story here is that production had been halted due to the failure of the Kurdistan Regional Government (KRG) to pay arrears for crude oil sales. According to Gulf Keystone, the KRG has received a $26 million pre-payment (of which $20.8 million is net to Gulf Keystone) for future Shaikan crude oil sales. Production capacity here is 40,000 bpd and with the pre-payment on future crude oil sales, Gulf Keystone will ramp up production to full capacity. Gulf Keystone has 9 producing wells in Shaikan and two newer production wells should add to existing capacity. The bottom line is that the KRG is footing a rather significant security bill to keep the Islamic State (IS) away from Kirkuk and other Northern Iraq locations where Baghdad has fallen short.

• At the same time, we note that Gulf Keystone is a rather controversial company…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News