Russia’s Gazprom Neft plans oil trading with IraqMarch 2, 2012 - 19:12 AMT PanARMENIAN.Net - Gazprom Neft, the oil arm of Russian energy giant Gazprom, may start oil trading operations in Iraq in the second quarter of 2012, General Director Alexander Dyukov said on Friday, March 2, RIA Novosti reported. "We plan [to start] trading operations in the second quarter," Dyukov told reporters, adding that the future trading was not linked with the company's production at Iraq's Badra oil field. "These two projects are not linked with each other at all," he said. The company's Deputy General Director Vadim Yakovlev said in early February that Gazprom Neft planned to sell 2.5 million tons of oil per year in Iraq. The Russian company acts as an operator of the Badra deposit with a 30-percent stake in the project. Other participants include South Korea's Kogas with 22.5 percent, Malaysia's Petronas with 15 percent and Iraq's state-owned Oil Exploration Company with 25 percent in the project. Badra's reserves are estimated at about three billion barrels of oil. The production launch is scheduled for 2013 to reach 170,000 barrels per day or about 8.5 million tons per year by 2017 and maintain this level for seven years. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | SBP instant transfers now available from 190 Russian banks to Armenia To receive money from Russian banks, easywallet users need to go to their easywallet accounts. Armenia's Davit Chaloyan qualifies for Paris Olympics The Armenian boxer qualified for Paris Olympics after a series of successful bouts at the 2nd World Qualification Tournament. Lemkin Institute urges Armenia to respect people’s right to dissent The Lemkin Institute has urged the Armenian government to respect people’s fundamental human right to express their dissent. French-Armenian journalist returns to France after 41-day hunger strike Nicolian said on social media on Sunday, June 2 that he needs to improve his health in order to “continue the fight”. |