Iraq exports 9 shipments of gas condensates, 21 of gas liquids

A worker walks at Rumaila oil field in Basra, Iraq, November 28, 2017. Picture taken November 28, 2017. (Reuters)
Updated 10 April 2018
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Iraq exports 9 shipments of gas condensates, 21 of gas liquids

  • Iraq started exports of natural gas extracted alongside crude oil at its fields in the southern region in 2016
  • The gas is processed and exported by the Basrah Gas Company, a joint venture between state-owned South Gas Company, Shell and Mitsubishi
BAGHDAD: Iraq exported nine shipments of natural gas condensates and 21 shipments of gas liquids in the first quarter of the year, the oil ministry reported on Tuesday.

Iraq started exports of natural gas extracted alongside crude oil at its fields in the southern region in 2016.

The gas is processed and exported by the Basrah Gas Company, a joint venture between state-owned South Gas Company, Shell and Mitsubishi.

Basrah Gas is helping Iraq reduce flaring gas associated with oil. Iraq plans to stop flaring by 2021 and is building facilities to process gas captured at its fields into fuel for local consumption or export. Gas flaring costs nearly $2.5 billion in lost revenue for the government and would be sufficient to meet most gas‐based power generation needs, according to the World Bank.


VW to stop doing business in Iran: Bloomberg

Updated 59 min 29 sec ago
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VW to stop doing business in Iran: Bloomberg

  • VW will still be able to do some business in Iran under a humanitarian exception
  • VW has scrapped plans it announced in July last year to sell cars in Iran for the first time in 17 years

WASHINGTON: Volkswagen has bowed to American pressure stemming from the US rejection of the multi-party nuclear deal and will end almost all business in Iran, Bloomberg News reported Wednesday.
The accord was reached Tuesday after weeks of talks between the German auto giant and the administration of President Donald Trump, said Richard Grenell, the US Ambassador to Germany, according to Bloomberg.
VW will still be able to do some business in Iran under a humanitarian exception, Bloomberg added.
In May, Trump pulled the US out of the deal it reached with Iran and five other countries in 2015. That accord lifted sanctions against Tehran in exchange for restrictions on its nuclear program.
Now, the US is reimposing those sanctions.
Bloomberg said VW has scrapped plans it announced in July last year to sell cars in Iran for the first time in 17 years.