Industry

Southern Iraq: where oil boom means security services boom

Iraq_securityOil exploration and production activity is growing fast in southern Iraq.

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Baker Hughes seals US$640mn Iraqi drilling contract

Baker_HughesIraq awarded a three-year contract valued at US$640mn to Baker Hughes to drill 60 wells in Iraq's southern Zubair oilfield, government spokesman Al Al-Dabbagh said.

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Iran admits oil production hit by falling investments

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Iran says its crude production has dropped due to a lack of investments in its oilfields.

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Exxon considering US$10.9 billion bid for Gulf Keystone

ExxonMobil_GKExxon Mobil is looking into the possibility of taking over the UK's Gulf Keystone Petroleum (GKP) in a deal that would value the group at US$10.9 billion. (Update)

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IEA oil demand forecast for 2012 remains unchanged

IEA_2012The International Energy Agency's (IEA) monthly report for November saw its estimate for oil demand in Q4 2011 fall to 0.7mn bpd (down by 0.2mn bpd), but the watchdog left its forecast for 2012 unchanged at 1.3m bpd.

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