Iran is sweetening the terms it offers on oil development contracts to draw the interest of foreign investors deterred by sanctions and low crude prices, as its pragmatic president seeks to deliver on his promise of economic recovery.
Two major Indian companies and a British firm clinched the lion's share of oil project contracts worth $4 billion awarded by Kuwait during the July to August period, said a report.
Larsen & Toubro (L&T) and Dodsal of I
Iraq's Kurdish region has started exports of heavy crude to world markets, traders and industry sources said, a further step to wrestle more control of its lucrative oil sector from the central government in Baghdad.
Turkey and Iraqi Kurdistan have yet to completely finalize a package of energy deals, and Ankara will seek Baghdad's co-operation on the issue, the Turkish foreign ministry said on Saturday after sources said the contracts had been signed.
Turkey and Iraqi Kurdistan signed a multi-billion-dollar energy package this week that will help transform the semi-autonomous region into an oil and gas powerhouse but infuriate a central Baghdad government wary of increasing Kurdish autonomy.
State-run Oman Petroleum Company (PDO) is planning to award $1.04 billion worth of contracts for work in its oilfields before the end of this year, a company official said on Tuesday.
'We are processing the tenders submitted for variou
US-based Defense Solutions, an international project management firm in the defence and energy fields, has outlined the firm's five year growth plan that capitalizes on the firm's extensive opportunities in Iraq.
Release of the business pl
Iraq will respect profit-sharing contracts signed by the Kurdistan region with foreign oil firms, ending a long-standing dispute between the two sides, Prime Minister Nuri Al Maliki has said.
He said Baghdad finally agreed because extracti
Iran's revised oil and gas development contracts offer more incentives to foreign firms and Turkey's reservations about the deals reflect an initial lack of knowledge, said the Iranian oil minister.
A Turkish energy ministry source