Monday 26 August 2013

Iraq blames Shell for $4.6 billion lost income - Your Middle East

Iraq blames Shell for $4.6 billion lost income - Your Middle East:

"Iraq's oil ministry, struggling with sputtering output, has blamed Anglo-Dutch energy giant Shell over $4.6 billion in lost revenue due to production delays, in a letter seen by AFP Monday.

The document, dated July 21, 2013, sharply criticises the foreign energy firm for shortfalls in oil extraction at the giant Majnoon field in south Iraq, and comes as oil exports have fallen to their lowest level in 16 months even as Baghdad has looked to cement its role as a key global energy producer.

It indicates growing frustration within the government over oil exports, which account for the lion's share of state revenues -- a dispute with the northern Kurdish region has suspended expected sales from there, and sales via a pipeline through to Turkey have markedly dipped compared to previous years."

'via Blog this'

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