Vallares will merge with Turkey's Genel Energy International Ltd. in a US$2.1 billion deal that will see Vallares gain access to oil fields in Iraq's Kurdistan region.

Iraq's August crude oil export increased to 68mn bpd, a jump of about one per cent from the previous month's 67.2mn bpd.

Honeywell has entered into a global agreement to provide implementation consulting services, project management, and long-term end-user support with Nautical Control Solutions, LP (NCS) for its FuelTrax Marine Fuel Management system.

Italy's Eni has signed a deal with Libya's rebel government aimed at quickly restarting its oil and gas operations in the country following concerns it could lose its dominant position to rivals.

DNO International Boards of Directors approved the merger of RAK Petroleum's oil and gas operating companies into DNO International in exchange for DNO International shares.