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2014-08-12 18:00:00

GAZPROM READY TO WITHDRAW

GAZPROM READY TO WITHDRAW

Russian oil company Gazprom Neft is continuing operations in Iraqi Kurdistan, but it is ready to evacuate employees, a representative told ITAR-TASS on Monday.

"The company has a plan involving personnel evacuation in case the situation deteriorates, but this is not happening now. The company is following closely how the events are unfolding in the region," the official said.

Islamic State guerillas who represent Iraqi religious minority Yazidis have continued moving towards the capital of Kurdistan Arbil by Monday with Bagdad unable to stop them even after a US intervention.

Gazprom Neft has exploration and development licenses for three deposits in the region, where it began drilling in early August 2014.

itar-tass.com

Tags: OIL, GAZPROM, RUSSIA, KURDISTAN, IRAQ,

Chronicle:

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U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.

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