Industry

Schlumberger reported Q2 2011 revenue of US$9.6 billion against US$8.7 billion in the first quarter of 2011, and US$5.9 billion in the second quarter of last year.

The IEA Secretariat completed its 30-day review of the Libya Collective Action launched on 23 June. The review concluded that “the Action served a market need by adding liquidity and bridging the gap to additional supplies from OPEC countries.”

Iraq will be the key player in international oil politics over the next two decades, the countrys top government official for the energy sector said last week.

Mott MacDonald’s director of oil, gas and petrochemicals, Azfar Shaukat, told attendees at the recent Iraq Petroleum Conference of great potential in the oil and gas sector, but warned companies they will have to be patient until significant investment is found.