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Genel Energy Plc and DNO ASA have buy ratings from more than 70 percent of analysts tracked by Bloomberg. The reason? A tight rein on costs and abundant output.
Blindsided by a brutal downturn, oil companies have scuttled plans for scores of costly energy projects.
Iraq’s oil production has surged by roughly 1 million barrels per day in 2015, surprising analysts and adding to a global glut of crude that has driven down international oil prices.
he London-based company said Tuesday it expects to pump 85,000 to 90,000 barrels a day in 2015, compared with a previous forecast of 90,000 to 100,000.
The case began last year when Iraq’s central government sued to seize a tanker loaded with crude from the country’s Kurdish region that had sailed to the Gulf of Mexico and anchored in international waters off the coast of Texas.
An oil tanker that’s sat off the coast of Galveston since July amid an international legal dispute is finally leaving.
Iraq, holder of the world’s fifth-largest crude reserves, is rebuilding its energy industry after decades of wars and economic sanctions.
While their latest dispute was temporarily resolved last month to help finance the struggle against Islamic State, the accord has not addressed differences between administrations in Baghdad and Erbil that include the future of Kirkuk, northern Iraq’s main oil hub.
A Houston federal judge has asked for an update on settlement negotiations between Iraq and Kurdistan over a cargo of oil anchored in the Gulf of Mexico since July.
Lawyers representing Baghdad and Erbil met for 20 minutes behind closed doors with a U.S. federal judge on Wednesday to discuss the case involving a tanker carrying Kurdish crude that has been trapped in legal limbo since late July but no action was taken.