News / International
OPEC may face Iraq challenge sooner than expected
The storm brewing on OPEC's horizon over future Iraqi oil output could engulf the producer group sooner than it would like. Iran signs on Chinese rig
Iran's North Oil Drilling Company signed a $143 million deal with a unit of China National Petroleum Corporation, according to reports. OIL Field Discovery in Syria by OVL and Partner
ONGC Videsh Ltd. and its partner IPR Mediterranean Exploration Ltd. have made significant new oilfield discoveries in Block-XXIV located in northeastern part of Syria. The discoveries of Rashid and Abu Khashab fields have been back to back in 2009. Petroceltic seeks Algerian extension
Petroceltic, Irish exploration firm, announced that it will have more operating projects in Algeria, Italy and Tunisia in 2010. Maersk tumbles on global crisis
Maersk Group, the Danish firm, reported a net loss of $1 billion compared to a net profit of $3.5 billion in 2008, on the back of lower freight rates and lower prices for oil and gas as a result of the global economic crisis. Russia’s Gazprom to halve its Novatek stake
The Russian daily Kommersant reported that Gazprom is planning to swap more than half of its shares in Novatek for 51% of Sibneftegaz. Syria to Buy Azerbaijani Gas
Syria made an agreement with Azerbaijan to buy 1 to 1.5 billion cubic meters of Azerbaijani gas annually through Turkey. Abu Dhabi: Takreer signs $9.6b deals to boost capacity
Takreer, Abu Dhabi's oil refining company inked four agreements worth $9.6 billion (Dh35.25 billion) with four Korean companies to expand its oil refining capacity in Ruwais by the end of 2013, according to WAM the Emirati News Agency. 
