Drilling & production - 11 June 2012

Five bombs are reported to have exploded at an oilfield in Northern Iraq on Saturday; two pipelines were damaged but the country’s oil exports have not been affected.

Employees at Baker Hughes’ Norwegian unit have gone on strike, hindering drilling and maintenance, but not production.

Shareholders in Chesapeake Energy Corp have shown their displeasure with the way the company has been run, by refusing to back the re-election of two board members.

The Islamic Republic of Iran has come under intense financial pressure as sanctions on oil exports imposed by the EU and Washington have begun to cut into the Iranian economy.