Oil & gas news

The Zubair oil field in Iraq has had its production raised by 10% to 200,000 bpd of oil, putting the consortium that runs it on target to reach 1.2 million bpd of oil in six years time.

Iran LNG and Venezuela have signed a Letter of Intent (LOI), which will see Iran export LNG to Venezuela, which may then be exported onto Argentina and Cuba.

Riversdale Mining has confirmed that it has held takeover discussions with Rio Tinto.

FLSmidth has made an offer to acquire ESSA Australia Ltd, corresponding to an enterprise value of DKK 170 million.

Fraser Bomford, AKE, examines the risks of living and working in Pakistan, especially for foreign expatriates who have become a target in recent years.

Walter Energy will acquire Western Coal Corp. for C$ 3.3 billion (US$ 3.3 billion) to create a leading, publicly traded, pure-play met coal producer with total coal reserves of approximately 385 million t and a significant and growing production profile in Canada, the US and the UK.

Desire Petroleum has tentatively announced the discovery of oil in the Rachel North well.

Aker Solutions has been awarded the Åsgard subsea compression system contract by Statoil. The contract value is approximately NOK 3.4 billion.

API comments on the recent US tax recommendations.

Grain LNG, owned by National Grid Plc, has completed a capacity expansion plan worth £310 million. The terminal can now handle 20% of the UK’s annual gas demand.