News / International
Iraq Adds $9B to 2012 Budget On Higher Oil Revenues
Increased oil revenues have allowed Iraq to add around $9 billion to its 2012 budget bringing the total budget for the year to above $110 billion, a government spokesman said Tuesday. Technip Enters Middle East Subsea Market
French oilfield services firm Technip said Monday that an award from Dubai Petroleum marks the firm's entry in the Middle Eastern subsea market. BP sells stakes in North Sea fields for $280 million
British oil major BP said it agreed to sell its minority stakes in two North Sea fields to Japanese trading company Mitsui (8031.T) for $280 million, as part of a plan to focus its portfolio in the region on larger scale projects. SABIC, Exxon to proceed with elastomers project in Jubail
Saudi Basic Industries Corporation ( SABIC ) and affiliates of ExxonMobil announced yesterday they will construct a world-scale specialty elastomers facility at the Al-Jubail Petrochemical Company ( KEMYA ) manufacturing joint venture. The facility will be integrated with the existing Jubail complex and completion is anticipated in 2015. South Korea to suspend imports of Iranian oil after EU ban
South Korea said Tuesday that it will halt all Iranian oil imports from the start of July in response to a European Union insurance ban on tankers carrying crude from Iran. Weatherford Wins $843M Iraq Zubair Field Contract
U.S. giant oil services company Weatherford International Ltd. won a $843 million crucial oil field facilities contract from Eni SpA-led group that will boost oil production from Iraq's Zubair oil field by some 300,000 barrels a day, a government spokesman said. OMV, Wintershall in Adnoc sour gas pact
Germany's Wintershall and OMV of Austria have teamed up with Abu Dhabi National Oil Company (Adnoc) to sink appraisal wells at a sour gas play in UAE. Iraq asks Obama to halt Exxon’s Kurdish deal
Iraq has asked U.S. President Barack Obama to stop Exxon Mobil exploring for oil in its autonomous Kurdistan region, saying the U.S. company's actions could have dire consequences for the country's stability. 
