Brent crude hovered above $105 a barrel on Monday, dropping from a one-week high hit on Friday, as US intervention in Iraq eased concerns over the risk of disruption to supply from Opec's second-largest producer.
Acting on a request from the central government in Iraq, a US judge has signed an order telling the US Marshals Service to seize a cargo of oil from Iraqi Kurdistan aboard a tanker off the coast of Texas, court filings showed early on Tuesday.
Iraq expects oil exports to reach 2.6 million barrels per day (bpd) this month and has expanded the capacity of its export facilities in the south to 3 million barrels daily, Oil Minister Abdul Kareem Luaibi said.
Speaking on a to
Iraqi oil exports rose to about 71.4 million barrels in November despite bad weather, port maintenance in the south and disruptions along the country's northern pipeline, the oil ministry spokesman said on Thursday.
BP has started to receive payment for the millions of dollars it has invested in Iraq with the loading of its first shipment of Iraqi oil last week, industry sources said on Tuesday.
London-based BP and its Chinese partner CNPC have been d
Norwegian group DNO has begun test production for Iraqi oil exports and will soon boost volume to 50,000 barrels a day, it said, kindling talk of a potential bid for the company.
The oil company, whose shares hit multi-year highs on Thursd
Iraq's new Oil Minister Abdul Kareem Luaibi said on Monday that the country's oil production currently exceeded 2.6 million barrels per day, the first time it had reached that level in 20 years.
"Today, the Iraqi production reached m
British oil major BP and Chinese partner CNPC have paid a $500 million signature bonus due on the contract they won to develop Iraq's supergiant Rumaila oilfield, a senior Iraqi oil sector official said.
The Iraqi Oil Ministry and the
Exxon Mobil Corp is in constant dialogue with Baghdad to create the investment climate that would allow it to become a significant player in Iraq's energy sector, Exxon's chief executive said.
The world's largest publicly traded company is
Four Western oil companies are close to signing oil contracts with the Iraqi government that will return them to the country for the first time in 36 years, the New York Times reported in its online edition.
Exxon Mobil, BP, Royal Dutch Sh