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The Iraqi Drilling Company (IDC) has signed a contract with the Dhi Qar Oil Company to drill 20 new oil wells in the Nasiriyah oil field in Southern Iraq for a fee of $128m over two years. The deal was authorised by the Iraqi Ministry of Oil on 11 September.

Oil prices have edged up as the Organization of the Petroleum Exporting Countries (OPEC) and its partners are set to extend output cuts until at least the end of 2019 at their meeting in Vienna.

Offshore oil and gas operators in the Gulf of Mexico have evacuated a number of rigs and platforms in response to Tropical Storm Barry. The storm entered the Gulf of Mexico on 10 July, making landfall in Louisiana as a Category 1 hurricane on 13 July.

Theresa May will chair a Cobra emergency committee meeting following the seizure of a UK-flagged oil tanker in the Strait of Hormuz on 19 July 2019. The Stena Impero vessel was surrounded by four Iranian vessels and a helicopter before being boarded then redirected from its passage to Jubail towards Iran.

Oil prices have increased after a massive fire damaged Philadelphia Energy Solutions' major refinery on the US East Coast. Front-month Brent crude futures rose 84 cents at $65.89 per barrel, while US West Texas Intermediate (WTI) crude futures edged up $1.08 at $58.91 per barrel, Reuters reported.

Oil prices continued their upward trend for the fourth consecutive day on Tuesday on expectations that the US Federal Reserve will cut interest rates for the first time in more than ten years to support the growth in demand for fuel in the country.

Oil prices have slightly edged higher on China's factory data but are on track for a weekly loss.Brent crude futures were down $0.27 at $59.89 a barrel, while US West Texas Intermediate (WTI) crude futures were down $0.32 at $54.50 per barrel, reported Reuters.

Global oil prices dropped due to weaker demand outlook and a surprise increase in the US crude inventories. Brent crude futures slipped $1.69 to $60.60 a barrel, while US West Texas Intermediate crude futures were down $1.56 to trade at $51.71 per barrel, reported Reuters.

Against a background of escalating tension between the US and Russia over events in Ukraine, oil companies from each country have been working to overcome the numerous challenges of extracting oil from the Arctic Ocean. Having completed one of the largest Arctic expeditions in history to understand the challenges, the partnership has now started to drill.

Norwegian oil exploration and development company Aker BP has installed the Valhall Flank West topsides on the Valhall field, located offshore Norway in the North Sea.

Crude prices jumped more than 1% after Yemeni separatists carried out a drone attack on a Saudi Arabian oil facility during the weekend. Brent crude climbed 78 cents to $59.42 a barrel, while US crude gained 64 cents to trade at $55.51 per barrel, reported Reuters.

Independent oil and gas company Woodside has signed an agreement with Perth-based Blue Ocean Monitoring (BOM) to invest in technology innovation firm Blue Ocean Seismic Services (BOSS).

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There are lots of industries in different sectors that produce different products. In the industries which are active in the field of heavy chemicals and oil, there are lots of tubes used in different areas