Iraq Archives - Panorama Insurance Brokers

China oil giants considering buyout of Exxon’s stake in Iraq oil field

(Bloomberg) –China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oil field in Iraq, which could fetch at least $500 million, according to people familiar with the matter. The Chinese state-owned firms are weighing a potential deal to buy the 32.7% stake in Iraq’s… Read More

Shell evacuates foreign staff from Iraq’s Basra Gas project – executive

(Reuters) – Shell has temporarily evacuated foreign staff, numbering around 60, from Iraq’s Basra Gas Company for security reasons and flew them out of the country but production was not disrupted, officials and company executives said on Thursday. The staff were evacuated on Wednesday after laid off workers staged a protest in the headquarters of… Read More

Iraq’s Insurance Market 2020

This article by Panorama Insurance is featured on page 21 of Iraq 2020 – Discovering Business Having worked in the country since 2004, Iraq continues to surprise and frustrate. Both S&P and Fitch list Iraq as have a B- (negative) credit rating and Iraq currently sits 172nd out of 190 countries in the World Bank… Read More

Global shut-ins surge as Canada, Venezuela among those leading 2 million bpd drop off

After three consecutive months of Covid-19 demand destruction and gravity-defying oil prices, operators are finally being forced to shut-in considerable production volumes. Globally, at least 1.9 million barrels per day (bpd) of oil production have been booted offline in April according to Rystad Energy estimates. In May, this will likely grow to at least 2… Read More

Western oil majors face potential attacks in Iraq following US airstrike

Despite reports of oil field staff withdrawals in Iraq over concern of retaliation from Iranian backed militants, all upstream operations and exports in Iraq are continuing normally, according to local sources, but western oil majors still remain a potential target for those looking to exact revenge for the US airstrike that killed a top Iranian… Read More

EU Ambassador in Tripoli Visits Ministry of Interior

The representative of the Ministry of the Interior for Illegal Immigration, Mohammed Al-Shaibani, recently received the Ambassador of the European Union to Libya, in the presence of the director of the branches of the illegal immigration agency. During the meeting, which was held at the headquarters of the ministry in Tripoli, the Ambassador discussed among… Read More