Gulf Keystone Petroleum Ltd. is sending staff back to Iraqi Kurdistan after US airstrikes eased the threat from Islamic State militants that prompted a mass evacuation of expatriate oil workers three weeks ago.
The Saudi Arabian national oil company has revealed plans to more than double its exploration efforts in order to make up a widening shortfall in global oil and gas reserves.
Brent fell for a second day amid speculation that turmoil across the Middle East will not threaten crude supplies.
Occidental Petroleum Corp. is in talks to sell a $3billion stake in a gas field to Abu Dhabi- owned Mubadala Development Co., Petroleum Intelligence Weekly reported, without saying where it got the information.
Iraq’s Kurdish administration may increase oil exports via Turkey fourfold to half a million barrels a day in months, according to an official with knowledge of the situation, citing improvements in pumping capacity.