Genel Energy has put all exploration work on hold for this year to rein in costs, the London-listed oil producer said waits nearly $400 million in oil sales payments from the Kurdistan Regional Government (KRG).
Iran and major powers gave themselves until Monday to reach a nuclear agreement, their third extension in two weeks, as Tehran accused the West of throwing up new stumbling blocks to a deal.
Iran's elite Revolutionary Guards have done very well out of international sanctions -- and if a nuclear deal is done in Vienna this week under which those sanctions are lifted, they are likely to do better still.
With oil prices slowly recovering from the dramatic fall last summer, chief financial officers (CFOs) working in the sector can galvanise the finance function in the fight to future-proof their business
Asset management company Baillie Gifford, oil producer Dragon Oil's largest independent investor, said an increased takeover offer from majority owner Emirates National Oil Co (ENOC) "materially undervalued" the company.
European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program.
Restrata, a major provider of terrestrial services in hostile and remote environments, has been awarded a $1.2 million dollar contract to deploy a new managed Internet network across six locations in Iraq.