Tag: Iraq

Energy projects struggling to find investors as costs rise

Soaring costs across the oil and gas industry are threatening to price out emerging markets competing to attract capital, the head of the International Finance Corp. warned Tuesday.  More »

From China to Tanzania, more open energy markets emerge

Big players in the Eastern Hemisphere have diversified their energy sources and attracted more foreign investment over the past decade, but powerful government interests are often at odds with the energy industry’s drive to maximize profits from commercializing resources, a panel of energy experts said Monday.  More »

Iraq official says oil exports jump in February

Iraq’s daily oil exports surged to 2.8 million barrels per day in February, some half million barrels more than in the previous month.  More »

Iraq considers more actions against Exxon for Kurd oil venture

Iraq is considering additional measures against Exxon Mobil Corp. over deals the company signed with the semi-autonomous Kurdish region, Deputy Prime Minister for Energy Affairs Hussain al-Shahristani said.  More »

Iraq protest costs Baker Hughes $80M

A protest that left damage to Baker Hughes’ main facility in Iraq cost the company $80 million in profit in the fourth quarter, the company said Friday.  More »

Several energy ministers say no OPEC cut needed

Ministers from Saudi Arabia, Kuwait and Iraq said OPEC needn’t cut production next year to make room for additional supplies from Iran, Libya and U.S. shale oil.  More »

OPEC pumps least crude in more than 2 years

OPEC reduced crude production in November to the lowest level in more than two years as output dropped below the organization’s 30 million barrel-a-day ceiling for a third month.  More »

PetroChina to buy 25 percent stake in Exxon field in Iraq

PetroChina Co. agreed to buy a 25 percent stake in Iraq’s West Qurna 1 field from Exxon Mobil Corp.  More »

Financial impact of Baker Hughes shutdown in Iraq uncertain

It’s “too soon to quantify the financial impact” of the protest that shut down Baker Hughes’ operations in Iraq this weekend, but the Houston oil field service company does have a dozen rigs in the country, Tudor Pickering and Holt analysts said in a note to clients Tuesday.  More »

Baker Hughes suspends Iraqi operations after local protest

Baker Hughes has suspended operations in Iraq after local residents held a protest near one of its subsidiary’s facilities on Saturday, the company said Monday.  More »

Global oil price will decline through end of 2013, EIA forecasts

The global benchmark price of crude oil will fall through the end of 2013, as the United States continues to pump more oil and cut its need for imports, the federal Energy Information Administration forecast in a report this week.  More »

Iraq to import natural gas from Iran

An Iraqi government spokesman says Baghdad has signed a deal with Iran to import natural gas for power generation, further intertwining the economies of the two Shiite-dominated countries.  More »
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