News / International
Iraq, Lukoil Award $998M West Qurna Deal to Samsung
Iraq and Russia's OAO Lukoil Holding have awarded a $998 million deal to south Korea's Samsung Group to develop the supergiant West Qurna phase 2 oil field, the Iraqi government said in a statement Wednesday. Brent rises above $110 as Fed vows low interest rates
Brent crude rose above $110 on Thursday, extending gains on hopes of demand growth revival after the U.S. Federal Reserve said it would keep interest rates low for much longer than previously planned, to help speed economic recovery. ExxonMobil laying groundwork in Kurdistan
ExxonMobil, the first supermajor to move into Iraqi Kurdistan, is quietly mobilising in Arbil despite strenuous objections from the central government, according to a report. Libya production increases to 1.3 million barrels per day
Oil production in the country has now resumed following the eight-month war. India and Pakistan announce joint energy initiatives
India and Pakistan on Wednesday announced several initiatives to accelerate cooperation in the oil and gas sector, as the two energy-starved nuclear-armed neighbours try to mend economic ties despite political differences. Gulf Keystone Petroleum provides operational update in Kurdistan
Gulf Keystone provides an update on its ongoing exploration and appraisal programme in the Kurdistan Region of Iraq, which includes the Shaikan block, a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis with a mean value of 10.5 billion barrels. Kuwait’s crude oil exports to China jump 58.9 percent
Kuwait's crude oil exports to China surged 58.9 percent in December 2011 from a year earlier to 853,000 tons, equivalent to around 202,000 barrels per day (bpd), for the first gain in two months, latest official data showed. Australia joins EU in banning Iranian oil imports
Australia has joined the EU in banning imports of Iranian oil and imposing a range of heavy sanctions amid threats of retaliatory military action by Tehran. 
