Industry

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.

Halliburton announced strong second quarter results which saw profits and revenues jump on the back of big growth in the North American market.