The second day of the fourth Iraqi licensing round has been met with a lukewarm response as only two more blocks have been awarded. The winners of the two new blocks are a group led by Lukoil and Pakistan Petroleum.
The Danish government has stuck to its forecast of an 8% decline in oil production for 2012.
Spanish company Repsol’s imminent departure from operations in Cuba is, according to analysts, a potentially “irrecoverable” blow to the communist Caribbean island’s dreams of oil riches.