• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 1 hour 60 mph electric mopeds
  • 6 mins COVID 19 May Be Less Deadly Than Flu Study Finds
  • 5 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 4 hours China to Impose Dictatorship on Hong Kong
  • 23 mins Russia loses its chance to capture the EU gas market
  • 5 hours Why 2030-Isn.t-The-Magic-Year-For-Electric-Vehicles
  • 6 hours Monetary and Fiscal Policies in Times of Large Debt:
  • 7 hours Payback Time: Republican Senators turn the tables on Democrats. The difference is the Republican investigations are legit.
  • 10 hours Iran's first oil tanker has arrived near Venezuela
  • 38 mins So the President is on that Hydroxy
  • 4 hours Let’s Try This....
  • 4 hours DEFIANCE – There are More of Us Than Them
  • 18 hours Ventura County to Replace Natural Gas Generation with Battery Storage
Russian Oil Majors Want Bailout From Moscow

Russian Oil Majors Want Bailout From Moscow

Russian oil companies are looking…

Why The Future Of Oil Rests On China

Why The Future Of Oil Rests On China

The pace of oil demand…

Iraqi Oil Field Resumes Production As Protests Subside

The Al Ahdab oil field in Iraq has resumed oil production after a week’s suspension that followed protests from security guards at the field, Bloomberg reports. Production has resumed at full capacity of 70,000 bpd.

Al Ahdab is operated by China’s CNPC, but it was blockaded last week by security guards who are protesting against the absence of permanent employment contracts. There was also another field at risk of closure in the vicinity, Badra, which produces about 50,000 bpd. Russia’s Gazprom Neft is the operator of that field.

Now the Iraqi authorities have agreed to provide the Al Ahdab security guards with permanent employment contracts and the protesters have lifted the blockade of the field.

Economic protests began in Iraq last October and have since then escalated into anti-government demonstrations. According to Bloomberg, as many as 600 people have died during the demonstrations, which have regularly led to clashes with security forces.

The protests shut down another oil field twice in less than a month. The Nassiriya field, in southern Iraq, was first shut down in December and then earlier this month as protesters demanded jobs, the Iraq Oil Report wrote. Nassiriya produces some 80,000 bpd.

So far, the effect of the protests on oil production in OPEC’s number-two exporter has been temporary. In December, the country pumped 4.65 million bpd. However, its production expansion plans have been put at risk by the protests as the foreign companies that would be responsible for them have started pulling their personnel out of the country.

In more bad oil news, BP dropped its plans to expand production from the Kirkuk fields in northern Iraq after exploration results fell short of expectations.

On the flip side, Baghdad announced plans to resume production at four oil fields in northern Iraq, in the Nineveh governorate. These fields were destroyed by the Islamic State, which used to control these territories before the Kurdish and Iraqi security forces drove it out.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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