Tagged Iraq

OPEC deal a tough task, as oil output freeze expectations rise

Rate this article By _Offshore_Energy_Today_ By Rania El Gamal and Alex Lawler DUBAI/LONDON (Reuters) – OPEC will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources, although Iran, Iraq and Russia present obstacles to a…

Can Iraq tackle its problems?

Rate this article Iraqis generally recognize that their country sits on some of the world’s largest oil and gas supplies that could provide substantial benefits. But depressed commodity prices aggravated mismanagement imposed by outsiders as well as internally in a nation that’s in the middle of one of the world’s most politically unstable neighborhoods, an…

DNO launches bid to acquire Gulf Keystone

Rate this article DNO, Oslo, has proposed to acquire Gulf Keystone Ltd., Bermuda, for $300 million in cash and shares. Both companies produce oil in the Kurdistan region of Iraq. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

OPEC oil output hits record high in June on Nigerian rebound

Rate this article By Offshore Energy Today.. By Alex Lawler LONDON (Reuters) – OPEC’s oil output has risen in June to its highest in recent history, a Reuters survey found on Thursday, as Nigeria’s oil industry partially recovers from militant attacks and Iran and Gulf members boost supplies. Higher supply from major Middle East producers…

Algeria among oil-exporting nations considering reforms, speaker says

Rate this article Algeria faces economic management challenges equal to those of Nigeria and Iraq amid depressed global oil and gas prices, a speaker said during a discussion of Middle East and North African oil-exporting nations’ economic outlooks. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

DNO boosts Kurdistan drilling, production

Rate this article DNO ASA, a Norwegian oil and gas operator controlled by RAK Petroleum PLC, reported it is using increased revenues for a drilling program at Tawke oil field in the Kurdistan region of Iraq, and executives said the company is on track toward increased profitability for 2016. Read Full Article Here For more…

IHS: Oil sales 43% of Islamic State revenue

Rate this article Islamic State, the jihadist occupier of parts of Syria and Iraq, makes 43% of its $80 million/month revenue from illicit sales of oil, estimates the monthly Conflict Monitor at IHS Aerospace, Defense, and Security. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest