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Friday, 30 June 2017

Rosneft in talks to develop disputed oilfields with Iraqi Kurdistan

Rosneft in talks to develop disputed oilfields with Iraqi Kurdistan:

"Russia’s state-controlled oil company is in discussions with Iraqi Kurdistan over helping it develop oilfields in disputed territory at the heart of tensions with Baghdad, in a move that pitches Moscow into one of Iraq’s oldest faultlines. Rosneft, in which the Kremlin holds a controlling stake, is examining several exploration blocks and existing fields in disputed territory under Kurdish control, according to three people familiar with the talks. They include sites near the oil city of Kirkuk and close to the Syrian border, areas formerly under Baghdad’s rule. The move is the latest suggestion that Moscow is using Rosneft to bolster a more aggressive foreign policy stance in the Middle East, as the Kremlin moves to cement new political alliances with deeper economic ties."



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Drilling slowdown may not rescue oil price

Oil Set for Longest Winning Streak in Six Months as Supply Eases - Bloomberg

Oil Set for Longest Winning Streak in Six Months as Supply Eases - Bloomberg:

"Oil is heading for the longest run of gains in six months as signs of slipping U.S. supply ease pressure on OPEC-led curbs. Futures added as much as 0.9 percent in New York, advancing for a seventh session. U.S crude output last week fell by the most in almost a year amid field maintenance in Alaska and tropical storm Cindy, while stockpiles posted the smallest gain in 2017. OPEC and its partners don’t plan to discuss deeper cuts when they meet next month, according to the United Arab Emirates."



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