Thursday, November 28, 2024

Iraq Oil Minister Expects Balance in Q1; Touts Per-Barrel Fee Contract Model with China’s Zhenhua Oil

Iraq’s $3.50 per barrel fee paid to Chinese producing partner Zhenhua will serve as its new contract model with international companies: Ameedi From The Nation BAGHDAD – Iraqi Oil Minister Jabar al-Luaibi said on Monday he was optimistic there would be a balance between supply and demand by the first quarter of 2018, leading to a boost in oil prices. Global oil inventories have decreased to an acceptable

New Drilling Rules Pass in Illinois

Oil Company Returns State Fracing Permit over Red Tape, Prices

Illinois’ New Albany shale: burdensome permitting process killed project From the Heartland Institute Kansas-based Woolsey Energy withdrew its first in the state of Illinois permit application for drilling, citing low commodity prices and Illinois’ burdensome permitting process. Less than two months after Kansas-based Woolsey Energy received approval to drill in the New Albany Shale formation in White County in southeastern