Iraq seeks to shift impact of OPEC cuts onto oil companies

Iraq’s Oil Ministry is attempting to displace some of the financial burden associated with its OPEC-related production cuts onto international oil companies (IOCs).The ministry’s move to scale down its payment obligations, which was confirmed by multiple industry officials, is likely to meet resistance from IOCs and could send a chilling message to prospective energy sector…

Weatherford and Safe Influx sign pact to boost Oil & Gas well integrity

New Delhi: Oil & Gas drilling company Weatherford International plc announced it has signed a Memorandum of Understanding (MoU) with Safe Influx, that provides automated well control technology, to boost well integrity in the construction phase of projects. The pact aims at integrating Managed Pressure Drilling (MPD) solutions with Automated Well Control technology. The joint…