UPDATE 1-Iraq would favour CNPC, Lukoil bid for Exxon oil stake
I
raq would favour bids by Russia's Lukoil and China's CNPC if they decided to buy Exxon Mobil's stake in the West Qurna-1 oilfield, a senior oil ministry official said.
Arab Oil & Gas News
US Seen Exceeding Saudi Oil Production by 2020
The International Energy Agency expects the United States to become the world’s largest oil producer by around 2020, temporarily overtaking Saudi Arabia, thanks to increased output achieved by new exploration technologies.
Turkey signs $350 million Iraq oil drilling deal
Turkey has signed a $350 million deal on drilling 40 oil wells in the southern Iraqi Basra area and is in talks with Baghdad on drilling 7,000 wells across Iraq, Energy Minister Taner Yildiz said on Friday.
Iraq wants to replace the “Exxon Mobil” Russian companies in oil projects
channel quoted "CNBC" U.S. television, sources in Iraq's energy sector, said on Thursday that Iraq studying the possibility of replacing the "Exxon Mobil" Russian companies in the U.S. project "West Qurna – 1" oil.
Iraq posts record oil exports in July
Iraqi exports of 2.516 million barrels per day (bpd) last month mark the highest average monthly output in decades, eclipsing a record set in April of 2.508 million bpd.
Oil pipeline supply linking Iraq with in Turkey stops
A source in the North Oil Company revealed on Saturday that the supply of oil in the pipeline of Kirkuk – Yumurtalik linking Iraq to Turkey stopped after the bombing that took place in the Turkish side.
Iraq warns Kurdish oil exports to Turkey harm ties
Iraq said on Sunday that oil exports from Kurdistan to Turkey by truck were "illegal", warning Ankara that such trade with the autonomous region could damage its relations with the central government in Baghdad.
Pakistan Petroleum to explore Iraq gas block
Iraq has signed an initial gas exploration contract with Pakistan Petroleum as part of its push to attract more foreign investment to develop its energy sector.
The contract gives the Pakistani company the right to explore gas Block 8 in Diyala and Wasit provinces in eastern Iraq, Reuters reported.
Abu Dhabi Exports First Pipeline Oil Bypassing Hormuz Strait
Abu Dhabi started exporting its first crude from a pipeline that bypasses the Strait of Hormuz, shipping the fuel from the neighboring sheikhdom of Fujairah to a refinery in Pakistan.
Iranian oil stuck in Egypt as Turkey cuts imports
Turkey is struggling to import Iranian oil in July because of Western sanctions on ship insurance, trading and shipping sources told Reuters, leaving Tehran battling to sell oil now stuck in storage tanks in Egypt.
