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Energy

Iraqi exports dip on southern capacity squeeze

Increasing pipeline flows to Turkey were offset in November by ongoing reductions in Basra Gulf exports following a deadly oil depot fire.
Tugboats position a single point mooring (SPM) buoy in the Basra Gulf in January 2012 as Iraq expands its export capacity. (ALI ABU IRAQ/Iraq Oil Report)

Egypt takes stake in exploration block

The Egypt General Petroleum Corporation (EGPC) has taken a 10 percent stake in the Kuwait Energy-led exploration contract for Block 9 in Basra.