Oryx Petroleum cuts spending for Kurdish oil operations, but expects production to hold steady. UPI/Ayad Rasheed The bulk of spending for 2015 will target oil operations in northern Iraq and, while spending is reduced, output should be static, Oryx Petroleum announced. Oryx, a Canadian company focused on operations in the Kurdish north of Iraq, said it was planning 2015 capital spending of $140 million, a 60 percent reduction from the budget set in November. Oryx Chief Executive Officer Michael Ebsary said low oil prices and “disruptions to market access” in the semiautonomous region led in part to the spending revision . “Accordingly, we have moderated our capital expenditure plans to focus on our core development assets to enable us to achieve our targeted near term production growth,” he said in a statement. “We are also reducing costs throughout the organization in order to increase our overall efficiency.” The company […]