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 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

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

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.