Oil explorers have suspended operations in Kurdistan and evacuated more staff as the security situation has worsened in northern Iraq. Afren Plc halted work at Barda Rash field on the region’s western border. Oryx Petroleum Corp. stopped production at demir Dagh facility and temporarily suspended drilling in two other areas. Genel Energy Plc has also evacuated some personnel and Gulf Keystone Petroleum Ltd. increased security as a precautionary step. Genel Petroleum officials have stated that their company is taking prudent and precautionary steps of withdrawing unnecessary staff from the non-producing assets in the region.
Chevron Corp. withdrew some expatriate staff yesterday. Reuters reported that Exxon-Mobil Corp. also evacuated people from the region. The world’s largest Oil Company declined to comment, saying that it doesn’t discuss security matters.Crude oil prices reversed gains of as much as 1.3 % in London, falling 36 cents to $105.08 a barrel by 11:11 a.m. in New York on the London-based ICE Futures Europe exchange. West Texas Intermediate declined 1 cent to $97.33 a barrel on the New York Mercantile Exchange.