Industry

The International Energy Agency (IEA), in its latest monthly, report cut its estimates for world oil demand growth this year.

Iraq inaugurated a new offshore oil export terminal in the Gulf in a move to ease infrastructure constraints and to bring sorely needed cash for reconstruction after decades of war and international sanctions.

At a recent media briefing, Mr Phil Burns, Managing Director, Aggreko Middle East, talked about the companys involvement in the hydrocarbon market and it expansion in the region.

A massive revision of Iraqs oil wealth boosted the overall Arab recoverable crude deposits by nearly 29 billion barrels at the start of 2011 but the regions proven gas resources remain almost unchanged.