ConocoPhillips unveiled the company name of the pending spinoff of its downstream oil and petrochemicals business, which will now be known as Phillips 66 and will be headquartered in Houston.

The International Energy Agency (IEA) in its latest World Energy Outlook (WEO) warned that consumers could face a near-term rise in the oil price to US$150/barrel if MENA investment and output drops.

Kuwait Energy Company announced its Q3 2011 results with revenues of US$47.9mn, up 33.8 per cent from Q3 2010 and up three per cent from Q2 2011.

RAK Petroleum Public Company Limited and DNO International ASA recently announced that shareholders have now approved their merger and the transaction is on schedule to close in early 2012.

Expro was awarded its first direct contract win in Iraq with Eni Iraq BV, lead contractor of the Zubair Consortium.