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Aug 15, 2014

Iraqi Kurds sell third major oil cargo, fourth heads to Croatia

LONDON, Aug 15 (Reuters) – Iraqi Kurdistan has delivered its
third major cargo of crude oil out of a Turkish port and a
fourth is sailing to Croatia, showing the autonomous region is
finding more buyers despite legal pressure from Baghdad and
setbacks in the United States.

The Kurdish Regional Government (KRG), whose peshmerga
forces are being supported by U.S. airstrikes in their battle
against the radical Sunni militants of Islamic State, has been
in a long constitutional fight with Baghdad over independent oil

Aug 13, 2014

Brent crude oil falls to 13-month low on strong supplies

LONDON, Aug 13 (Reuters) – Brent crude oil fell for a fourth
straight day on Wednesday to its lowest in more than a year,
dipping towards $102 a barrel as strong supplies overshadowed
fears of disruptions from violence in OPEC members Iraq and

The international oil benchmark has fallen 11 percent since
mid-June as the surge by Islamic State militants in northern
Iraq has yet to lead to any major supply outage, while global
crude output has been rising.

Aug 12, 2014

Oil tankers in limbo show Kurds losing access to U.S. market

LONDON/HOUSTON, Aug 12 (Reuters) – U.S. refiners will
refrain from buying more Kurdish crude oil until a long-running
dispute between Baghdad and Iraqi Kurdistan is settled, while
Washington urges both sides to set aside their differences and
helps them tackle Sunni militants.

The two known U.S. buyers of Kurdish crude oil have now
rejected delivery of cargoes from tankers near New Jersey and
Texas, saying they will not make further purchases until it is
determined who has the right to sell the oil: the central
government of Iraq or the Kurdistan Regional Government (KRG).

Aug 8, 2014

Iraqi Kurdistan oil firms pull out staff, shares fall

LONDON, Aug 8 (Reuters) – Oil companies in Iraqi Kurdistan
withdrew more staff on Friday as the United States launched
airstrikes to defend the regional capital Arbil from Islamic
State militants and Britain told its citizens to leave.

Iraqi Kurdistan-focused shares have fallen as investors
reappraise the autonomous region’s much-vaunted security. Some
of the biggest oil operators in the region have lost almost a
quarter of their market value this week.

Aug 7, 2014

Iraqi Kurdistan-focused oil shares hit by IS advance

LONDON, Aug 7 (Reuters) – Shares in energy companies
operating in Iraqi Kurdistan plummeted on Thursday after Islamic
State militants advanced closer to oilfields in the
semi-autonomous region.

Oil producers, including Oslo-listed DNO Petroleum
and London-listed Gulf Keystone Petroleum saw
double-digit declines in their share prices as the radical Sunni
militants seized at least three more towns near
Kurdish-controlled territory.

Aug 6, 2014

Trader Arcadia unbowed by CFTC oil-rigging deal

LONDON (Reuters) – Well before settling a long-running oil price manipulation case this week, global oil trader Arcadia had shrunk itself to a leaner operation with an almost singular focus: trading the very contracts U.S. regulators accused them of rigging.

Arcadia, a London-based trading firm founded in 1988 and bought eight years ago by Norwegian shipping billionaire John Fredriksen, does not expect restrictions agreed with the U.S. Commodities Futures Trading Commission (CFTC) to disrupt its new strategy focused mainly on trading U.S.-based crude, Paul Adams, chief executive of the U.S.-based Parnon arm, told Reuters.

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

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

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.