Brent crude prices edged higher on Tuesday on lift from the weaker dollar and better-than-expected data from China, Germany and the United States, but concerns about Europe’s economy after last week’s credit downgrades limited gains.
Genel Energy plc announced on Monday that they are taking steps to acquire an additional 60 percent stake in the Chia Surkh exploration block, an oil and gas field in Iraqi Kurdistan.
Iraq aims to boost oil exports by up to 400,000 barrels per day over the next two months as it opens the taps at a new Gulf outlet, a senior Iraqi oil industry source said on Tuesday, signaling the world’s biggest capacity expansion this year.
The Ministry of Oil in Baghdad announced that the Oil company is executing a project for increasing the export capacity of ports in the southern province of Basra, confirming achieving all works, and indicating that the activation of the project will…
Saudi Arabia, the world’s top oil exporter, said Monday it can pump more oil at a moment’s notice, the day after Iran warned Gulf oil producers not to compensate for any disruption to Iranian output.