Brent oil prices fell more than US$6 to US$71.25 a barrel after Saudi Arabia refused to decrease crude production at the 166th Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna
Industry
Kurdistan Region of Iraq to raise crude exports to Turkey via pipeline
Kurdistan Region of Iraq plans to increase oil exports through the regional crude oil pipeline to Turkey to 400,000 bpd by the end of the year and 500,000 bpd by the end of Q1 2015
‘UAE best job market for UK oil and gas contractors’
The UAE is the most active centre in the Middle East region for the UK’s oil and gas contractors, according to a survey
KUFPEC secures US$1bn loan for overseas expansion
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
Halliburton and Baker Hughes merge in US$34.6bn deal
Oilfield services companies Halliburton and Baker Hughes have announced merger for US$34.6bn
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