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Tanker of Kurdish Oil in Legal Fight Remains Off Texas

A tanker carrying 1 million barrels of disputed Kurdish oil remains off Texas , according to the vessel’s operator. The United Kalavryta, which left Ceyhan, Turkey , on June 23 and arrived off the coast of Galveston July 26, couldn’t be detected earlier this week, with no updates from the tanker’s Automated Identification System’s transponder from early Aug. 26 until today. The tanker is caught up in a protracted legal fight in Iraq over rights to Kurdish oil production and billions of dollars in overdue payments claimed by the Kurds. The U.S. government recognizes Kurdistan as part of Iraq. While a federal judge this week lifted an order that had authorized the seizure of the cargo if it came into U.S. waters, Iraq has more legal options available. “The M/T United Kalavryta is still anchored off Galveston awaiting charterer’s discharge orders,” Lygia Pirounaki, a spokeswoman for Marine Management Services […]

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Kurds raise oil funds for refugees

The Kurdish government of Iraq said it’s expanding a humanitarian initiative tied to oil operations to address the influx of refugees fleeing the Islamic State. The Sunni-led Islamic State, a terrorist group known also as the Islamic State of Iraqi and Syria, has squared off against Kurdish forces as it tries to expand its claims to territory in the region. The semiautonomous Kurdistan Regional Government said Friday it was broadening its Kurdistan Oil and Gas Humanitarian Initiative to extend to new refugees and internally displaced persons. "The Kurdish Ministry of Natural Resources is pleased that a number of oil companies in the Kurdistan region have already asked how they can support humanitarian efforts for the massive new influx of refugees and IDPs," it said in a statement. "With the expansion of KOGHI, companies have an already established framework for providing funds." The Kurdish government says it launched the initiative […]

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Iraqi Kurds Expand Autonomy as ISIS Reorders the Landscape

WASHINGTON — The Islamic State in Iraq and Syria has thrown Iraq into crisis, precipitated the ouster of Nuri Kamal al-Maliki as prime minister and brought the American military back to the country it left more than two years ago. But now Obama administration officials are quietly acknowledging another important consequence: a far more autonomous Kurdistan. The United States still officially opposes Kurdish independence, a decades-old policy that seeks to avoid further inflaming the region and provoking Turkey, Iraq and Iran, three countries with large and restive Kurdish minorities. But the ISIS invasion has fundamentally changed the political geography of Iraq, senior American and Kurdish officials said, physically cutting off most of Iraqi Kurdistan from the rest of Shiite-dominated Iraq and encouraging the Iraqi Kurds in their drive for expanded autonomy. Masrour Barzani, the chief of intelligence for the Kurdish region of Iraq, said that the Obama administration, which […]

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Oil field burns after ISIS retreat

A Kurdish tank faces toward ISIS lines on Aug. 26, 2014, a few kilometers away from the Khazir refugee camp, half way between Erbil and Mosul. (VIANNEY LE CAER/Pacific Press/LightRocket/Getty Images) A Kurdish tank faces toward ISIS lines on Aug. 26, 2014, a few kilometers away from the Khazir refugee camp, half way between Erbil and Mosul. (VIANNEY LE CAER/Pacific Press/LightRocket/Getty Images) Flames have engulfed oil facilities at the Ain Zalah field, in Iraq’s Ninewa province, after extremist militants fled the area following an offensive by Kurdish Peshmerga forces backed by ongoing U.S. air strikes.The Peshmerga also captured the nearby town of Zummar, just west of the Mosul Dam, which sits along a main road between Ain Zalah and Mosul, according to a Peshmerga officer, local residents, and a senior official from Iraq’s state-run North Oil Company (NOC).Militants have co… This content is for registered users. Please login to […]

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Besieged City Faces Destruction by the Islamic State

Forgotten in Iraq The world took notice when the Yazidis needed help. But since June, a Turkmen city in northern Iraq has been under siege by the Islamic State. The death toll continues to mount but, thus far, the people of Amirli have been left to fight the IS on their own. "Every day I receive about 100 patients. Every day there is shelling. Some of the injuries are very complicated, legs amputated, head wounds. But I don’t have the materials to provide serious treatment. There are cases where I have put patients on the helicopter alive and they die when they get to Baghdad." Dr. Khaldoun Mahmoud speaks extremely rapidly, and with good reason. There is only a single place remaining in the northern Iraqi town of Amirli where he still has a modicum of mobile phone reception: at the helicopter landing pad above the village. And with […]

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Iraqi Kurds say their fight is against more than just the Islamic State

Kurdish Peshmerga fighter keeps watch at Omar Khaled village near Tal Afar, west of Mosul August 24, 2014. Old hostilities between Arabs and Kurds exacerbate fighting with the Islamic State. (Youssef Boudlal/Reuters) GWER, Iraq — Kurdish fighters are struggling to hold on to recent gains against Islamic State militants in Iraq in the face of constant shelling and sniper fire. But Kurds say the jihadists have another weapon: local Arab sympathizers. The Kurds suspect area Arabs have backed the militants in battles that have raged in Iraq’s north over the past month, including a stunning advance by the jihadists. The fighting has displaced thousands of families in a region long known as a flash point for Arab-Kurdish violence. Now many Sunni Arab residents are barred from coming home. “The Arabs here stabbed us in the back, and now they are threatening us” from the villages nearby, a Kurdish intelligence […]

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Pemex Raises 2015 Oil Output Goal

MEXICO CITY—State-owned oil firm Petróleos Mexicanos said Friday that it is raising its 2015 goal for crude-oil output to 2.4 million barrels a day. The outlook comes after Pemex was forced last week to reduce this year’s production figures to account for water and other impurities pumped from offshore fields that were erroneously counted as oil. "We are looking at an upward tendency for 2015," said the company’s director of exploration and production, Gustavo Hernández, at a news conference. Pemex, as the company is known, lowered its estimated production for this year to 2.35 million barrels a day from 2.44 million to account for measuring errors at its offshore fields. Equipment at three production areas wasn’t accurately detecting the amount of water and impurities that are a common byproduct of oil production, particularly offshore, Pemex said. Mr. Hernández said its 2015 estimate for next year is for crude that […]

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Athabasca Oil Completes Sale of Stake in Project to PetroChina Co

Athabasca Oil Corp. on Friday said it completed the sale of its 40% stake in a Canadian oil-sands project to one of China’s largest state-run energy companies, putting an end to months of speculation that the deal might not go through. Athabasca said net proceeds from the sale of the Dover project stake will total 1.184 billion Canadian dollars ($1.09 billion), comprising a C$600 million cash payment at closing and three interest-bearing promissory notes for the remaining C$584 million. The company expects to use the proceeds to develop its core light-oil shale assets in the Kaybob Duvernay area of Alberta as well as its Hangingstone oil-sands project southwest of Fort McMurray, Alberta, Chief Executive Sveinung Svarte said in a phone interview. The closing of the Dover transaction is a welcome development for the Calgary-based oil-sands developer. The deal with China National Petroleum Corp.’s publicly traded PetroChina Co. subsidiary was […]

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Athabasca Completes $1.1 Billion Deal With PetroChina

Athabasca Oil Corp. (ATH) closed a C$1.18 ($1.1 billion) agreement with PetroChina Co. (857) to sell the rest of its Dover oil-sands project, ending weeks of speculation about whether the Chinese company would pay. The shares rose. PetroChina’s payment includes C$600 million in cash and C$584 million in promissory notes due through August 2016, backed by guarantees from HSBC Bank Canada, Athabasca said today. The original agreement was for PetroChina to pay in cash. The settlement comes two months after Calgary-based Athabasca had estimated the deal would close after triggering the sale of its 40 percent stake in Dover earlier this year. The payment was delayed as the Chinese government was investigating PetroChina executives over allegations of corruption, according to reports from publications including Beijing-based Caixin. A report in Canada ’s Financial Post was among several suggesting the state-owned company was trying to delay its purchase or claw back […]

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Gas-Rich Marcellus Drilling Boosts Rigs to 5-Month High

Rigs targeting natural gas in the U.S. rose to the highest level in five months after those drilling horizontally for the fuel gained in the Marcellus formation of the eastern U.S. Gas rigs jumped by eight to 338, the highest level since March 14, data posted on Baker Hughes Inc. (BHI) ’s website show. The oil count rose by 11 to 1,575 after sliding by 25 last week, the Houston-based field services company said. The Marcellus formation, the nation’s biggest onshore gas play, added the most rigs, gaining five drilling horizontally for gas and raising its total count to a two-month high. The energy rig count is surging in the U.S. as producers use horizontal drilling and hydraulic fracturing to draw record volumes of oil and gas out of shale formations from North Dakota to Texas. The boom has raised domestic crude production to the highest level in 28 […]

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