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See Taylor Swift's disgusted reaction to Justin Bieber-Selena Gomez backstage kiss
DUBAI, United Arab Emirates, Jan. 29 (UPI) -- Dubai's Dragon Oil said it was joined by independent Kuwait Energy in receiving permission from Baghdad to start oil exploration work in Basra province.
The Iraqi Oil Ministry signed a final service contract for Dragon Oil and Kuwait Energy to work in Block 9, a 347-square-mile site in southern Basra.
The companies said they're eligible for a 20-year development project should Block 9 find commercial reserves during a five-year exploration period. Neither party gave a reserve expectation.
"We look forward to continue participating in the development of Iraq's energy resources, and supporting the country's endeavors toward the development of its energy sector," said Kuwait Energy Chief Executive Officer Sara Akbar in a statement.
Disputes between the central government in Baghdad and the semiautonomous Kurdish government of northern Iraq have plagued the country's oil sector.
In its report for January, the Organization of Petroleum Exporting Countries said Iraq was among members who saw oil production decline.
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WASHINGTON, May 21 (UPI) --
A member of Congress who led an investigation into the BP oil spill in 2010 expressed outrage that a judge threw out a charge against a former BP executive.
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RIO DE JANEIRO, May 20 (UPI) --
Sweden's Saab is upgrading its bid for Brazil's FX-2 jet fighter purchase plan, even as it weighs challenges from rivals Boeing and France's Dassault.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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