David's Feed
Aug 4, 2014

Iraqi Kurdistan-focused energy shares fall after IS advance

LONDON, Aug 4 (Reuters) – Energy shares focused on Iraqi
Kurdistan fell sharply on Monday after the Islamic State’s
seizure of oilfields and towns in northern Iraq raised fears
over the autonomous region’s ability to defend its territory
against Sunni militants.

Shares in Norway-listed DNO International and
London-listed Genel Energy Plc fell 9 percent and 6
percent respectively in early trading, while Gulf Keystone
Petroleum International fell 3 percent.

Jul 30, 2014

Iraqi Kurdish pipeline stopped; tanker in limbo off Texas

ISTANBUL/LONDON, July 30 (Reuters) – Iraqi Kurdistan’s
attempts to export oil independently of Baghdad hit another
obstacle on Wednesday, as a Turkish energy official and industry
sources said the autonomous region’s pipeline to the
Mediterranean has been shut for the past week.

The Kurdistan Regional Government (KRG) has not launched any
oil tankers from the Turkish port of Ceyhan in over a month as
Baghdad has moved to block the vessels from unloading at foreign
ports.

Jul 25, 2014

Kazakhstan state energy company step closer to London flotation

LONDON, July 25 (Reuters) – Kazakhstan’s state-owned
national energy company KazMunaiGas took a significant step
towards a possible stock market flotation in London, confirming
on Friday it had approached its majority-owned exploration
company to buy all its remaining shares.

Bringing the cash-rich exploration arm back into the
state-owned group is widely seen by analysts as a move towards
the eventual public listing or IPO of the national company,
which operates some of the largest oil and gas fields in the
world.

Jul 24, 2014

Iraqi Kurdish oil nears US port despite concern in Washington

LONDON/BAGHDAD/WASHINGTON, July 24 (Reuters) – A tanker
carrying crude oil from Iraqi Kurdistan is just two days away
from arriving at a U.S. port, according to ship tracking
satellites, despite Washington’s long-standing concern over
independent oil sales from the autonomous region.

The United Kalavrvta tanker, which left the Turkish port of
Ceyhan in June carrying oil delivered via a new Kurdish
pipeline, is due to dock in Galveston, Texas on Saturday,
Reuters AIS Live ship tracking shows.

Jul 23, 2014

Brent rises on global tensions, drop in U.S. oil stocks

LONDON, July 23 (Reuters) – Brent crude oil rose towards
$108 a barrel on Wednesday as threats to supplies from
oil-producing regions and a drop in U.S. oil stocks overshadowed
a stronger dollar.

The U.S. Energy Information Administration said U.S. crude
stocks fell by 4 million barrels last week, more than expected,
while gasoline and distillate stocks rose.

Jul 21, 2014

Hedge funds slash higher Brent oil bets 25 pct in price rout -ICE

LONDON, July 21 (Reuters) – Hedge funds and other large
speculators slashed their bets on higher Brent crude oil prices
by almost 25 percent in the week to July 15, ICE said on Monday,
as prices collapsed to their lowest in three months.

The IntercontinentalExchange Inc. said money
managers reduced their net long futures and options positions in
Brent to 151,981 from 201,568 as prices fell to a
three-month low of $104.39, down from more than $115 a barrel in
mid-June.

Jul 18, 2014

Old-school traders of physical oil teach hedge funds a lesson

LONDON, July 18 (Reuters) – A near 10 percent drop in
international oil prices since last month has taught a painful
lesson to many hedge funds and other speculators in energy
futures: you can ignore physical markets for only so long.

Hedge funds piled into what seemed a one-way bet in early
June, grabbing up oil contracts as the rapid advance of Islamist
insurgents in northern Iraq threatened supplies from OPEC’s
second-largest producer at the same time that peak summer demand
was approaching.

Jul 8, 2014

Brent oil hits fresh 1-month low under $110 in 7-day slide

LONDON, July 8 (Reuters) – Brent crude fell to a fresh
one-month low beneath $110 a barrel on Tuesday, as prospects for
a rise in Libyan oil exports improved and fears of supply
disruption in Iraq eased.

The benchmark is headed for a seventh straight session of
losses, the longest losing streak since October 2012, and has
shed 5 percent since the Iraq crisis drove prices to a
nine-month high of $115.71 in June.

Jul 3, 2014

Iraqi Kurds say will sue Baghdad if it blocks oil sales

LONDON, July 3 (Reuters) – Iraq’s autonomous Kurdish region
has hit back at Baghdad over independent oil exports, a letter
from the Kurdistan Regional Government (KRG) showed, threatening
to counter sue the central government for trying to block its
sales.

The strongly worded letter shows growing confidence from the
Kurdish capital Arbil in the long-running oil sales dispute, as
Baghdad struggles to regain control of swathes of territory lost
to a Sunni Islamic militant insurgency.

Jun 25, 2014

With new grip on oil fields, Iraq Kurds unveil plan to ramp up exports

ARBIL (Reuters) – Iraq’s self-ruling Kurds outlined plans on Wednesday to swiftly ramp up oil exports now that their forces have seized control of Iraq’s main northern oil fields, a move that could tear up the settlement holding Iraq together since the fall of Saddam.

Kurdish Natural Resources Minister Ashti Hawrami told Reuters the Kurds had plans to increase their exports eight-fold by the end of 2015, including pumping oil from the fields taken by Kurdish fighters two weeks ago.