State seeks stakes in companies pegged for role in its domestic development; Sees strong long-term outlook for commodities; Turns towards energy, diversifying bank, property-heavy portfolio
May 24, 2012 2:19
Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and US financial sanctions now make it almost impossible to process payments, industry sources said.
March 26, 2012 4:17
French oil major Total SA has become the latest big oil company to shift the focus of its Iraq ambitions toward the semi-autonomous Kurdistan region, and away from the much larger but economically challenging contracts offered by Baghdad.
February 11, 2012 6:11
Iraq's Majnoon oilfield, operated with Royal Dutch Shell, should be ready to produce 175,000 barrels per day (bpd) by the end of 2012, an output level that triggers cost recovery and service fee payments, a senior company official said on Tuesday.
February 8, 2012 12:29