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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

Iraq’s oil revenue rises to $6 billion in May

     

    • Iraq got a boost from high oil prices as it made some $6 billion in oil revenues.

    • The country is looking to buy from ExxonMobil a 32 percent stake in an oilfield

     

     

    The economy of Iraq received a boost from oil revenues when the country made some $ 6 billion in May alone, while the average price of a barrel of crude oil went up to $65.46, according to figures put out by the Energy Ministry of Iraq on its website.

    May’s exports were flat on the previous month at 2.9 million barrels, but with an average price of $62.5 per barrel. Iraq said last month that ExxonMobil was seeking to sell its 32.7 percent stake in the West Qurna 1 field, and that the oil ministry had started discussions with US oil companies over a possible purchase, Reuters reported in May.

    The US company plans to sell the stake in the prominent field – which has recoverable reserves of more than 20 billion barrels – in part to reduce the accumulated debt in the past year.