DNO has bought out ExxonMobil’s 32% stake in the Baeshiqa licence, increasing the Norwegian company’s stake to 64%.
The Tawke licence in Kurdistan produced 110,300 barrels per day in 2020, DNO has reported, down from 124,000 bpd in 2019.
Gulf Keystone Petroleum (GKP) has appointed a new CEO, Jon Harris, who will replace Jón Ferrier.
Chevron has reached first oil at the Sarta field, in Kurdistan, from an early production facility.
Dana Gas has struck a deal to sell its Egyptian assets to IPR Wastani Petroleum for up to $236 million, including contingent payments.
DNO’s Peshkabir gas capture and injection project, in Kurdistan, has launched and already captured 1 billion cubic feet of gas injected, in a major move to reduce emissions.
Genel Energy reported an operating loss of $340 million for the first half of the year, but still generated $6.5mn of free cash flow.
Oryx Petroleum has cut operating expenses by 21% and is focused on slimmed down operations in Kurdistan for the near future.
Gulf Keystone Petroleum (GKP) intends to cut 30% of costs this year, including a workforce reduction of 40%.
DNO and Genel Energy have cut production estimates and spending this year in Kurdistan, although allowing that work could resume should prices strengthen.
Norway’s DNO has tested and appraised its Baeshiqa-2 exploration well in Kurdistan and is moving to spud an exploration well on a separate prospect on the same licence.
Dana Gas has taken a step towards splitting its upstream and midstream businesses off from each other, following approval for the plan from its shareholders at an AGM vote.
Gulf Keystone Petroleum does still intend to increase production to 55,000 barrels per day in Kurdistan but this is dependent on conditions improving, including the resolution of outstanding payments from the local government.
Dana Gas has received a number of bids for its Egyptian portfolio and will come to a decision by the end of March.
Since the Arab Spring in 2011, the Middle East and North Africa (MENA) region has faced continued political upheaval. But energy production and export remains central to its prosperity.
Genel Energy has agreed to buy stakes in the Chevron-operated Sarta and Qara Dagh blocks, in the Kurdistan Region of Iraq, for $60 million.
Genel Energy said today that a well drilled in the northern part of the Taq Taq field in Kurdistan has struck oil.
Iraq’s semi-autonomous Kurdistan Regional Government said it’s prepared to freeze the results of last month’s independence referendum that triggered deadly clashes with government troops and hurt oil exports.
A surge in crude prices faded as Iraq sought to restore flows from fields in a disputed region after violence had curbed output in OPEC’s second-biggest producer.
Russian oil giant Rosneft has agreed to operate Kurdistan's main oil pipeline.
The crisis unfolding around the Iraqi city of Kirkuk has left some of the world’s largest commodity trading houses worried the country’s autonomous Kurdish region will struggle to repay billions of dollars in cash-for-oil loans.
Oil declined following a report that Kurdish forces agreed to withdraw from areas the Iraqi army is reclaiming, easing tension in the crude-rich region.
Iraq's military has seized two major oil fields outside the disputed city of Kirkuk from Kurdish forces.
Iraqi soldiers moved late Sunday to take over oilfields in the northern city of Kirkurk from Kurdish forces, pushing crude prices higher amid reports of deadly clashes. Standard University director of Iranian studies Abbas Milani weights in. Watch the video to find out more.
The drama around President Donald Trump and Iran's compliance with the nuclear deal has grabbed the oil world's attention. This gaze should shift west. Rising tensions in northern Iraq could have a much more immediate impact on oil flows that could lead prices higher, and squeeze producers and refiners.