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. (more…)

Total’s Kurdistan oil deal angers Iraq

French oil major Total (TOTF.PA) has bought a 35 percent stake in two exploration blocks in Iraq's Kurdistan region, drawing an angry response from the Iraqi government which has tried to bar companies from dealing directly with the…

Gazprom becomes one of most profitable world cos – Forbes

The Russian gas giant Gazprom became the most profitable companies in the world economy. According to the results of work in 2011, it occupied the first place according to the amount of its profits on the global list of the American Forbes…

Shell Looks To Lengthen Arctic Drilling Season Amid Deadlines

Royal Dutch Shell PLC (RDSA, RDSA.LN) is scrambling to take advantage of a shrinking opportunity to drill for oil in the Arctic Ocean this summer, recently asking the Obama administration to allow it to get an early start on planned wells…

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. (more…)

Brent stays above $102

Brent crude held steady above $102 per barrel yesterday on optimism over the outlook for demand growth, as China’s Premier Wen Jiabao said the government would step up efforts to boost the economy of the world’s second-largest…

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. …