Iran has started drilling four offshore wells as part of Phase 1 of the South Pars gas field development in the Gulf

Iraq has raised its estimated crude oil reserves to 150bn barrels from 143bn barrels, following the discovery of more oil in fields currently being upgraded, as well as from a new field in southern Iraq

French oil subcontractor Ponticelli has pulled out of Libya’s Mabruk field, citing a lack of security and fear of an attack on its employees as the main reason behind its decision

Iraq’s Federal Oil Ministry has announced its plan to auction the Nassiriya oilfield to more than 50 oil companies on 19 December 2013

Azerbaijan Methanol Company (AzMeCo) has revealed plans to invest in the construction and development of petrochemical and oil refinery plants in Libya