Monday, November 25, 2024
Iraq

Red Flag: Iraq Warns Oil Companies it Intends to Cut Spending due to Oil Revenue Drop

Iraq tells oil companies to submit conservative funding requests for 2016 A letter dated September 6, 2015, from the Iraq Oil Ministry was sent out to international oil companies operating inside the country notifying them that they should plan to lower spending in 2016, reports The Wall Street Journal. Iraq is struggling to support its energy sector as it feels

House Set to Vote on Export Ban in September

House Majority Leader expected to announce vote today Oil companies have been pushing hard in the last year to see the end of a four-decade-old ban on the export of U.S. crude oil. “The growing supply of American oil is outpacing domestic demand and needs a new outlet,” said Fred Upton (R-MI), Chairman of the Energy & Commerce Committee in