Iran closes oil wells in flood-hit Khuzestan province, output drops

Authorities ordered tens of thousands of residents of the southwestern Iranian city of Ahvaz to evacuate immediately as floodwaters entered the capital of oil-rich Khuzestan province, state television reported. (File/AFP)
Updated 17 April 2019
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Iran closes oil wells in flood-hit Khuzestan province, output drops

  • Iran’s worst flooding in 70 years, which started on March 19, has killed at least 76 people
  • “The oil production of the field has dropped between 15,000 to 20,000 barrels per day,” an official said

DUBAI: Iran has shut around a dozen oil wells in its oil-rich southwestern Khuzestan province because of massive floods, the semi-official Mehr news agency reported on Wednesday, leading to a drop of up to 20,000 barrels per day in crude production.
Iran’s worst flooding in 70 years, which started on March 19, has killed at least 76 people, forced more than 220,000 into emergency shelters and caused an estimated $2.5 billion in damage to roads, bridges, homes and farmland.
“There are no oil leaks at the Hoor Al-Azim wetland area. We have closed 10 to 12 oil wells there as a precautionary measure to prevent any environmental damages,” Mehr quoted Touraj Dehghani, the head of Iran’s Petroleum Engineering and Development Company (PEDEC), as saying.
“The oil production of the field has dropped between 15,000 to 20,000 barrels per day.”
Iranian media on Friday reported oil output had been reduced in Khuzestan, home to the Azadegan and Yadavaran oilfields.
Iranian authorities have said the floods have not affected crude exports.
The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and six world powers. The sanctions have already halved Iranian oil exports.
US President Donald Trump eventually aims to halt Iranian oil exports, choking off Tehran’s main source of revenue. Washington is pressuring Iran to curtail its nuclear program and stop backing militant groups across the Middle East.


Emaar, Beijing Daxing Int’l Airport in deal on $11 bln project: WAM

Updated 37 min 58 sec ago
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Emaar, Beijing Daxing Int’l Airport in deal on $11 bln project: WAM

DUBAI: Dubai’s Emaar Properties signed an agreement with Beijing Daxing International Airport to implement an $11 billion project that includes residential and leisure facilities, UAE state news agency WAM said on Monday.
The agreement, signed on the sidelines of a state visit by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed, includes the value of five square km of land at the airport.
Emaar will open an office in Beijing on Monday, the statement said.