Iraq has picked British oil services firm Petrofac for a $95 million contract to carry out maintenance work for its new offshore terminals and sub-sea pipelines at the Gulf, an Iraqi oil official said on Monday.
June 18, 2012 6:12
OPEC likely to renew 30 mln bpd output target; Extra Saudi oil has lifted actual supply to 31.6 mbpd; some fear price collapse if Saudi doesn't cut back
June 13, 2012 5:48
Bargain price oil is a standard perk for residents of crude-exporting nations. But the practice is expensive for members of the Organization of the Petroleum Exporting Countries, which meets in Vienna this week. It's well past time for a change, says Christopher Swann
June 13, 2012 5:42
Iraq is set to overtake Iran as OPEC's second biggest producer. Already, Iraqi oil is helping to fill the supply gap created by tightening Western sanctions on Iran. The cartel's hawks are unhappy about those extra barrels; prices have fallen one fifth from their March peak.
June 11, 2012 5:45