BP and CNPC raised their shares in Rumaila oilfield of Iraq

Last week, a revised contract has been signed by British oil major BP and China's CNPC for Iraq's Rumaila oilfield has raised both companies' stakes in a joint venture formed to develop the field, as per the reports from officials. Under the revised contract, BP has cut the planned output target for the supergiant field to 2.1 million barrels per day from 2.85 million bpd and e

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TAQA Oil Company suspends operations in Kurdistan Region

Erbil (IraqiNews.com) The Emirati Abu Dhabi National Energy Company (TAQA) assured suspending its performance in Kurdistan Region. The suspension was due to the latest security updates near Erbil province. Recently, the terrorist groups of the Islamic State in Iraq and the Levant started military threats for Erbil province. /End/

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Reuter Exclusive: Iraqi Kurdistan oil pipeline export capacity to double. By Humeyra Pamuk and Orhan Coskum, Duhok, Iraq/Ankara, Turkey

(Reuters) - The capacity of Iraqi Kurdistan's independent oil pipeline will almost double to at least 200,000 barrels per day by the end of this month, helping the semi-autonomous region increase exports and revenue, industry sources and officials said. Oil revenues are a lifeline for the Kurdish Regional Government (KRG) in northern Iraq, whose peshmerga forces are being supp

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In the month of July, Iraqi oil export reached 2.442 million bpd

Iraqi oil ministry said that in the month of July, Iraq's oil exports increased to an average of 2.442 million barrels per day (bpd) from 2.423 in the previous month. The statement further added that shipments from the northern oilfields of Kirkuk are still suspended. The selling price for Iraq's crude is $102.8 per barrel and revenues of $7.8 billion have been generated in Jul

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