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OIL AND GAS
Genel, others, evacuate non-essential staff from Iraq
by Daniel J. Graeber
London (UPI) Aug 8, 2014


Kurdish government say oil production secure
Erbil, Iraq (UPI) Aug 9, 2013 - Oil production in the Kurdish region of Iraq remains unaffected by violence and exports are expected to rise, the Kurdish government said Saturday.

U.S. military forces responded with limited airstrikes against insurgents from the Sunni-led Islamic State. Pentagon spokesman John Kirby said the military targeted insurgent artillery after it was used to attack Kurdish Peshmerga forces defending the Kurdish capital, Erbil.

A number of oil companies operating in the area, from Genel Energy to U.S. major Chevron, have pulled non-essential staff out of the area as a security precaution. So far, few companies have experienced significant declines in oil production as a result of the violence.

"Oil production in the region remains unaffected and is being delivered to both the domestic and export markets," the semiautonomous Kurdistan Regional Government said in a statement Saturday. "Indeed, the KRG is expecting that the producing companies will ramp up production in the coming weeks as ongoing export infrastructure improvements come online as planned."

The Kurdish government put its oil on the international market in significant quantities starting in May. A vessel, the United Kalavrvta, is parked off the southern U.S. coast loaded with more than 1 million barrels of Kurdish oil.

That shipment sparked competing claims in the U.S. court system from the KRG and the federal government in Baghdad over who controls oil sales from Iraq.

British energy company Genel Energy said Friday it pulled non-essential staff out of northern Iraq as a safety precaution, though operations are secured.

Genel said operations at the Taq Taq and Tawke oil fields in the Kurdish region of Iraq are safe from insurgent activity launched by Islamic State militants. Operations in the north are safe and the company said it had full confidence in the ability of the semiautonomous Kurdish government to keep things secure.

"In line with moves by other operators, we are taking the prudent and precautionary step of withdrawing non-essential personnel from our non-producing assets in the region," it said in a statement.

Gulf Keystone Petroleum, one of the more active players in the Kurdish north, said Thursday it was monitoring the security situation closely. U.S. company Chevron said it pulled some staff out of northern Iraq because of mounting security risks.

The Kurdish government this week said it deployed its military force, the Peshmerga, to respond to the terrorist threat. In a late Thursday announcement, U.S. President Barack Obama said he was following suit.

"To stop the advance on [the Kurdish capital] Erbil, I've directed our military to take targeted strikes against ISIS terrorist convoys should they move toward the city," he said in a statement.

The Pentagon confirmed Friday terrorist artillery sites near Erbil were struck by U.S. military aircraft.

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Vienna (UPI) Aug 8, 2014
Libyan oil production is at its highest level since the beginning of the year, the Organization of Petroleum Exporting Countries said Friday. OPEC said in its latest monthly market report crude oil production from member states averaged 29.9 million barrels per day. Production fell primarily in member states Iraq and Angola, while production increased from Libya and Saudi Arabia. ... read more


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