Kuwait Foreign Petroleum Exploration Company (KUFPEC) has signed a US$1bn loan, which will be used for company’s general corporate purposes and international expansion plans

Oilfield services companies Halliburton and Baker Hughes have announced merger for US$34.6bn

Middle East will become the major source of oil by 2020 as the USA’s tight oil output and non-OPEC supply will decline worldwide, said International Energy Agency (IEA)

Iraq and the semi-autonomous region of Kurdistan Region of Iraq (KRI) have reached a deal that will ease tensions over the regional oil exports and civil service payments from Baghdad, according to Iraq’s finance minister

Kuwait has plans to raise its crude oil exports to Egypt to up to 100,000 bpd from the current 65,000 bpd