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(Arabian oil and gas) --
Iraq’s Oil Ministry is being kept waiting by Exxon for an explanation of their
decision to breach Baghdad’s blacklist policy by taking up six exploration
agreements with the Kurdish Regional Government.
The Ministry has so far sent four letters to Exxon asking for an
explanation without response, according to a Reuters report, despite one being
signed by Nouri Al-Maliki, the Prime Minister, and another by Abdul Karim
al-Luaibi, the Oil Minister.
Exxon – which has not provided any public comment on the deals since they
were disclosed by the KRG’s Natural Resources Minister Ashti Hawrami on 12
November – may have put its field development contract at the supergiant West
Qurna phase 1 field at risk by making the deals. Baghdad says contracts signed
with the KRG are void because they give oil companies a proprietary interest in
the region’s oil, contrary to the Iraqi constitution, something the KRG hotly
disputes.
Abdul Mahdy al-Ameedi, head of the Oil Ministry's petroleum contracts and
licensing directorate, told Dow Jones Newswires that Exxon may be replaced at
West Qurna 1 by Shell, which holds a minority (15%) interest in the development
contract and is the operator of the Majnoon field.
Perspectives of development of the polymers markets, pricing issues and
other important aspects will be discussed at The Polymers
Summit-2011, which will be held in Moscow on November 30, 2011 at the
Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea
of the Summit is to find a "the golden mean" between producers and converters.
When producers receive exactly such margin of production, which helps them to
invest in production expansion in order to substitute polymers imports, and the
converters receive such price of feedstock that helps them to compete imported
finished products. The Summit site gives an access to the live video of the
Summit, speakers" presentations, as well as opportunities to ask questions or
make appointments to any Summit partcipant.
mrcplast.com
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