Iraq lifts oil output at Eni’s Zubair field

Zubair’s production capacity will rise gradually to 625,000 bpd by the end of the year, as three additional processing facilities are added. (Reuters)
Updated 09 May 2018
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Iraq lifts oil output at Eni’s Zubair field

  • Production rose after the completion of a new oil processing facility.
  • Country is also seeking to lift its refining capacity to become self-sufficient in oil products.

ZUBAIR: Iraq has lifted oil production at Eni’s Zubair field in the south by 50,000 barrels per day (bpd) to 475,000 bpd, an Iraqi oil official said on Wednesday.
Production rose after the completion of a new oil processing facility, Muhaned Abbas Kojer, the capacity expansion project director, told Reuters on the sidelines of a ceremony to launch the new installations in Al-Zubair, south of Basra.
Zubair’s production capacity will rise gradually to 625,000 bpd by the end of the year, as three additional processing facilities are added, and further expansions will take its capacity to its 850,000 bpd target by 2020, Abbas said.
The field should produce 140 million cubic feet per day of gas by the end of the year, he added.
Iraq, the second-largest crude oil producer in the Organization of the Petroleum Exporting Countries after Saudi Arabia, has an oil production capacity of nearly 5 million bpd.
Crude output is kept at about 4.45 million bpd, in line with a deal between OPEC and some other non-OPEC producers to curb production in order to bolster crude prices.
The country is also seeking to lift its refining capacity to become self-sufficient in oil products.
The oil ministry has asked investors for bids by June 14 to build a 100,000 bpd refinery in Kut, south of Baghdad.
Iraq’s refining capacity was curbed when Daesh overran its largest oil processing plant in Baiji, north of Baghdad, in 2014.
Iraqi forces recaptured Baiji in 2015 but it sustained heavy damage in the fighting. The country now relies on the Doura refinery in Baghdad and the Shuaiba plant in the Basra region.


Instagram moves into e-commerce with shopping button

Updated 20 March 2019
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Instagram moves into e-commerce with shopping button

  • A new “checkout” button for instant purchasing launched in a beta version of the app in the US with a limited number of businesses
  • Facebook makes the bulk of its money from digital advertising but has dabbled with e-commerce in the past

SAN FRANCISCO: Facebook-owned Instagram on Tuesday made a move into potentially lucrative e-commerce by adding an option to buy products shown off in posts by selected brands.
A new “checkout” button for instant purchasing launched in a beta version of the app in the US with a limited number of businesses, according to the popular image-centric messaging service.
“We’re introducing Checkout on Instagram,” the Silicon Valley based division of Facebook said in an online post.
“When you find a product you love, you can now buy it without leaving the app.”
Tapping the checkout button will allow shoppers to select options such as size or color and then pay for items without leaving the Instagram app.
Previously, people inspired to buy products featured in Instagram posts had to follow links to outside online shopping sites.
Information entered for an initial purchase will be stored for future use, according to Instagram.
It remained to be seen how people would feel trusting information such as credit card details to a service owned by Facebook, which has been hit with waves of criticism for its handling of personal data.
Brands taking part in the checkout feature included Adidas, Burberry, Dior, H&M, Nike, Oscar de la Renta, Prada, and glasses retailer Warby Parker.
Facebook makes the bulk of its money from digital advertising but has dabbled with e-commerce in the past. It has pitched its Messenger service as a communication platform for shops or brands to connect with customers.