
	January 26th 2012

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Samsung wins US$998mn West Qurna contract

The Iraqi government approved a US$998mn oil field service deal awarded to South Korea's Samsung Group by Lukoil to develop the West Qurna Phase Two oil field.

ConocoPhillips and Oxy post strong Q4 results

ConocoPhillips and Occidental Petroleum Corp (OXY) both posted better-than-expected Q4 earnings, rising 66 per cent and 35 per cent respectively, due to higher oil prices.


EU approves oil embargo on Iran	Sabic and Sinopec sign Protocol of Cooperation	Schlumberger's Q4 2011 earnings jump 36 per cent

The European Union (EU) approved an embargo on Iranian oil imports at a meeting of EU foreign ministers in Brussels.	Sabic signed a cooperation deal with Sinopec Group to explore opportunities in new petrochemical projects.	Schlumberger's Q4 earnings rose by 36 per cent from US$9.07 billion in 2010 to hit US$10.97 billion in Q4 2011.
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