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Ministry of Oil: Basra Oil Company signs a memorandum of principles for the establishment of the industrial island in the territorial waters with a Dutch company. Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Abbas Ghadhban confirmed Iraq's keenness to develop its export capabilities through the implementation of projects to increase export capacity from the southern outlets, this came during his patronage of the signing of the memorandum of principles for the establishment of the industrial island between the Basra Oil Company and the Dutch company "Boskalis". Ghadhban said that the ministry after the approval of the Council of Ministers is working on the implementation of the project to establish an industrial island in the territorial waters in the Gulf, aimed at increasing Iraq's export capabilities and treasury, and is one of the promising projects in the oil sector. Mr. Al Ghadhban said that the signing of the memorandum of principles for the establishment of the industrial island with the Dutch company "Boskalis" comes to add storage capacity of more than 6 million barrels per day, in addition to the export capacity of 3 million barrels per day to the current export capacity, pointing out that the project is a vital projects The strategy implemented by the Ministry of Oil to develop the national economy and increase financial revenues of the federal treasury. For his part, the Director General of the Basra Oil Company, Ihsan Abdul Jabbar, said that the establishment of the industrial island will give a qualitative leap and great flexibility in future export capacities from the south, especially that the production of the Basra Oil Company is on a steady rise, and we are working to keep pace with the expected increase in production and export operations. For his part, the Dutch Ambassador to Baghdad (Eric Stratenk) that his country's companies want to develop and strengthen relations with Iraq in all areas, especially in the field of energy, and this celebration comes to strengthen cooperation between the two friendly countries. For his part, the representative of the company (Ko de Blaeij) expressed his happiness to cooperate again with Iraq, and the company will prepare detailed studies for the construction of the island within one year and then start the implementation of the work, which takes two years, and thus the duration of the planned implementation of the project 3 years, and that our company is working In Iraq for more than three decades. The ministry spokesman Assem Jihad said that the industrial island in the territorial waters will give Iraq high flexibility in the process of exporting and loading oil tankers, in addition to raising the storage and export capacity of southern ports, where the storage capacity of crude oil will be added more than 6 million barrels per day, and add export capacity 3 million barrels per day from the southern ports, pointing out that the project includes the constr
Eyes open for the Panoro update later today.
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This man now holds over 7 million shares in petrel, Now we know where the other placing shares went, Looking very good: .. Said Mehraik SAID MEHRAIK BUSINESS HISTORY Summary He holds a Bachelor of Science in Accounting, Computer Science, Law and Social Law from Université Paris Diderot. Career top-management experience in leading European oil and gas, hotels, banking and finance groups. He has extensive experience in accounting and finance and is an expert in managing asset management fund for extremely high net worth client. Business History Milshare (Financial Holding) Chief Executive Officer and Chief Financial Officer – Strategy, Planning and Management – Financial Analysis, Budgeting and Forecasting – Accounting, General Ledger, Administration and Operations – Financial Management – Financial Relations and Policies – Finance and Accounting Team Management – Cash Management Downstream – Tamoil Corporation and related Affiliates Chief Accountant Officer Tamoil was founded and built as the combination all of the Italian assets of Amoco (Standard Oil Company of Indiana) and of Texaco Corporation (1,000 service stations each), starting in the 1980s. When Said Mehraik was Tamoil’s Chief Accountant Office, Tamoil expanded to 3,000 service stations, three refineries, an extensive pipeline distribution system and a refining capacity of 255,000 barrels of oil per day. Tamoil today has annual sales of $20 billion and a market capitalization of $6.3 billion. The company operates in Germany, The Netherlands, Switzerland, Italy and Spain. Oil Capital Ltd. (OCL) Inc. Chief Accountant Officer In the early 1990s, after the Soviet Union loosened its grip on Central Asia, Oil Capital Ltd. (OCL) Inc. was the originator of the 1,100-mile Baku-Ceyhan pipeline project, which now moves one million barrels per day of Caspian Sea crude oil to the Mediterranean Sea and thus to world markets. Said Mehraik was OCL Inc.’s Chief Accountant Officer. OCL Inc. negotiated and signed the original pipeline right-of-way transit agreement with the Government of Turkey. This agreement was essential to the success of the project, which was eventually completed by BP after its purchase of Amoco, with which OCL Inc. had been cooperating in the Central Asian area. During this period, OCL Inc. also acquired development rights and equity ownership positions in Turkmenistan’s Blocks I (offshore) and III (onshore) two of that country’s major oil and gas producing properties. (Block I was later farmed out to Malaysia’s Petronas.) These fields have reserves of 13 trillion cubic feet of gas and 700 million barrels of oil, with 1,400 working wells, and currently produce two billion cubic feet per day of natural gas. Baku-Tbilisi-Ceyhan (BTC) is considered as “one of the great engineering endeavours”.
Not sure if this has been posted here today?
https://streamable.com/t/nudf0
Maybe ADM is coming back for his company?
And as if by magic!
Peel increase Holdings...
Another two Contracts awarded in Iraq:
http://www.xinhuanet.com/english/2019-09/07/c_138371964.htm
Interesting last sentence in this article... :)
My response from OO on 3/9/19 was:
‘We plan to make one this week.’
I will believe it when I see it however...