Oil

The organization has communicated the order to all the related companies since Wednesday. September 27.

Chinese companies have moved into Venezuelan upstream activities as well. However. here the primary play has been to control oil export revenues.

Azar oilfield in Ilam Province has pumped over 4.5 million barrels of crude oil since it went into operation.

The country is aiming to raise oil output to around 4 million bpd by the end of the year and 4.5 million bpd within five years from around 3.8 million bpd in recent months.

Indian companies. both public and private. have invested about $5 billion in US shale assets.

The OPEC leader has lost ground to rivals selling in some of its key Asian export markets. most particularly China and India.

Over the first eight months of the year. WTI averaged US$49.34 a barrel. while the Henry Hub price per MMBtu of natural gas was US$3.

Producers in the U.S. and Canada have made dramatic efforts to cut costs since the collapse of oil prices three years ago.

Oil exports serve as the KRG’s main source of income.

South Azadegan field'.s development project is being undertaken with the help of Iranian firms and internal financial resources.