ExxonMobil Caught in Iraq Political Standoff
ExxonMobil has been removed from a list of bidders for Iraqi energy exploration rights amid political tensions between the Middle Eastern state and the Kurdistan Regional Government (KRG).
Articles Tagged "iraq"
Middle East and North African Tensions Push Oil Prices Higher, Posing Recession Threat
The political uprisings in the oil-rich region of the Middle East and North Africa are pushing oil prices to a dangerous level that threatens to force many still recovering economies into another recession. Wayne Atwell, Managing Director of Casimir Capital, spoke with Oil Investing News, a part of The Resource Investing News Network, about the possible implications for the resource markets.
Iraqi Crude Oil Buyers May Face Delays
Iraq has agreed to sell more oil in the second half of this year than it was able to deliver in the first, leaving some customers concerned about expensive delays in their supplies. For full story, click here
Iraq needed $50 bln of investments in Oil Industry
Iraq, holder of the world’s third- leading crude oil reserves, needs more than $50 billion of investments in the country’s petroleum industry in the next five to six years, Oil Minister Hussain al-Shahristani said. For full story, click here
Iraq’s Kurdistan commenced exporting crude
Iraq’s largely autonomous Kurdish region on Monday officially commenced oil exports from two fields it had developed with foreign oil firms through contracts the Baghdad government describes as illegal. For full story, click here
Iraq declared Kurd’s Oil deals still illegal
Iraq’s Oil Minister Hussein al-Shahrastani declared that Kurd’s oil deals with foreign oil firms still considered illegal despite approving Kurdish plans to export crude oil through national pipelines. For full story, click here
DNO International has got approval for Iraq Oil Exports
Norwegian oil producer DNO International declared that it has received formal approval from Iraq’s regional government in Kurdistan to start exporting crude oil from its field in northern Iraq. For full story, click here
Oil deal with Iraq still remains uncertain
Korea may lose a chance to secure rights to explore oil fields in the southern region of Iraq as the government of the war-torn country excluded Korea from the list of bidders for its development projects. For full story, click here
Iraq reported issue of tender for crude process plant
Iraq’s South Oil Company announced that it has issued a tender for a 75,000-barrel-per-day crude oil process plant in the super giant South Rumaila oil field. For full story, click here
Oil Price Peaks And Slides
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
