Shell is thinking about selling its oil fields in Iraq

Published: Dec 2, 2016 11:21

Save

Royal Dutch Shell is considering selling out of its oil fields in Iraq as part of its global USD 30 billion.

By Polymers

SEATTLE (polymers.in): Royal Dutch Shell is considering selling out of its oil fields in Iraq as part of its global USD 30 billion.
- Shell is seeking to slim down its vast oil and gas portfolio following the USD 54 billion acquisition of BG Group in February.

OPEC is making a last-ditch bid to save the oil deal the markets want
- OPEC experts started a meeting in Vienna at 9AM and were due to make recommendations.

OPEC Said to Remain Split as Saudis Call Cut Not Essential
- OPEC officials failed to resolve internal differences that stand in the way of an agreement to cut oil production.
- Brent crude fell as much as 1.8% to USD 47.45/bbl, after touching USD 48.81 on Monday.
- Algeria proposed Iraq cut production by 240,000 bbl/day.

Iran Pulls Ahead in Race to Supply India With Oil
- Iran supplies in October rose 56% to 759,700 bbl/day from a month ago.
- Shipments from Saudi Arabia were 717,000 bbl/day.
- Iraq shipment were 488,000 bbl/day.

Canadian Stocks Slide Most in Two Weeks as Oil Companies Retreat
- The S&P/TSX Composite Index fell 0.4% to 15,015.36.
- Energy producers led the index lower, falling 1.4% as a group for a third day of losses.

Oil Climbs as Iraq Pledges to Cooperate With OPEC on Output Deal
- Futures gained 2.2% in New York.
- WTI for January delivery rose USD 1.02 to settle at USD 47.08/bbl.

Oil Investors Have USD 490 Billion Riding on Big OPEC Decision
- Oil and gas producers including Exxon Mobil Corp and Royal Dutch Shell Plc have together added USD 490 billion to their market value this year.
- The Bloomberg World Oil and Gas Index of 58 companies is up 12% this year.

Feedstock (Ethane, Ethylene, Propane, Propylene, PX, PTA, MEG, EDC, VCM)
Propylene prices march higher in Asia
- On Friday, FOB Korea propylene prices were assessed up at USD 785/MT levels, a week on week gain of USD 20/MT.
- CFR Taiwan prices of propylene were higher at USD 815/MT levels, a rise of USD 15/MT from the previous week.
- CFR China prices of propylene were assessed up at USD 820/MT levels, a week on week increase of USD 20/MT.

Pemex says October ethylene output increases 12% on month, 16% on year
- Pemex’s ethylene production totaled 64,896/MT in October, up 12% from September.
- Pemex’s propylene output totaled 1,145/MT in October.

NEA-SEA ethylene location spread hits record high $140/MT on firm China demand
- The price spread between CFR Northeast Asia and CFR Southeast Asia ethylene markers remained at a record high USD 140/MT.
- CFR NEA ethylene marker was assessed unchanged from Friday at USD 1,040/MT.
- In Southeast Asia ethylene market was assessed unchanged from Friday at USD 800/MT Monday.

Polymers Supply
PVC plant plans to be shut by LG Chem
- LG Chem is likely to shut its PVC plant for a maintenance turnaround in December 2016 and will be shut for a week.

PE imports to Belarus up by 35.2% in the first nine months of 2016
- Overall imports of PE into Belarus increased to 97,800 MT in the first nine months of 2016.

Courtesy: www.polymers.io

Oil prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 23:56

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

Feb 6, 2026 23:56

Feb 6, 2026 23:54

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

Feb 6, 2026 23:54

Feb 6, 2026 23:47

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

Feb 6, 2026 23:47