LONDON/BAGHDAD / Reuters Iraq would have to compensate international oil companies for limits placed on their production, according to industry sources and documents seen by Reuters, further reducing the prospect it will join any OPEC deal to curb the group’s output. The compensation – stipulated in contracts – would compound the financial hit of losing much-needed revenue from crude ...

  MADRID / Reuters A Spanish consortium which is building a high-speed rail link between Mecca and Medina has reached a preliminary deal with Saudi Arabia to finalise the works after a series of delays and setbacks, Spain’s public works ministry said. The Al Shoula consortium comprising 12 Spanish companies including OHL and Indra as well as two Saudi firms ...

  KIRKUK / Reuters Iraq’s exports from the Kirkuk oil field through an export pipeline to Turkey have dropped because of power outages, an official at state-run North Oil Co. said. Export are currently running at 100,000 barrels per day (bpd), compared with 133,000 bpd in October, the official said. The pipeline delivers crude to Turkish terminal of Ceyhan, on ...