As part of the Kurdistan Regional Government’s ongoing transparency initiative, the Ministry of Natural Resources is putting all signed production sharing contracts (PSCs) for oil and gas in the Kurdistan Region into the public domain.
An explosion at Iraq’s biggest oil field on Tuesday sparked a massive fire that partially halted crude production, the state-owned South Oil Co and Britain’s BP said.
The company hired Mirabaud Securities to run a placing with institutional investors at 140p per share – a 13pc discount to the market price – which was oversubscribed. Its share price dropped 6pc to 152.45p.
“We have stopped exporting gas that would have been exported into this compressor and this will have an impact on our production from Rumaila,” BP spokesman David Nicholas said, without offering figures for the cut in oil output.
A fire at a state-run gas compression unit at Iraq’s major southern oilfield Rumaila on Tuesday killed one person and hit oil production, police and oilfield developer BP said.