Iran said it would launch full-scale development of the offshore Arash gas field in the Persian Gulf if Kuwait does not respond to its offer of joint development.

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Iraqi crude oil production jumped to the highest level in at least 20 years, or more than 3 million barrels a day, said Hussain al-Shahristani, deputy prime minister for energy affairs.

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Kuwait produced more than 3 million barrels of oil in December and expects that rate to continue if demand exists, its oil minister said on Sunday.
“We are over 3 million and if the demand is there, we will continue to produce that,” Mohammad al-Busairi said after a meeting of Gulf Arab oil ministers in Abu Dhabi.

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The turmoil in Iraq after the United States troop withdrawal is extending to its vital petroleum industry.

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While much attention has been paid to Arab uprisings in North Africa and the Middle East, disputes in the neighbouring region of the eastern Mediterranean Sea over the development of vast offshore natural gas fields are also worthy of our attention.

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French oil major Total expects its oil production in Libya to return to pre-war levels as soon as next month, a company executive told Reuters on Tuesday.

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Mauritanian Minister of Petroleum and Energy, Taleb Ould Abdi Vall, and the Chief Executive Officer of Total, Pierre Desvoges, Sunday signed an oil exploration and production agreement, PANA learnt here Monday from official sources.

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An explosion hit an Egyptian pipeline feeding gas to Israel and Jordan on Sunday in the 10th such attack this year, Egyptian security services said.

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Libya’s crude output will return to its pre-conflict level in the third quarter of next year after current production reached 1 million barrels a day, the country’s oil minister said.

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The International Energy Agency (IEA) said a boost in Saudi oil output would provide welcome relief from the threat that high fuel prices pose to efforts to revive the global economy.

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