Chevron cuts Kurdistan staff, Exxon said to be evacuating


Chevron (CVX -0.2%) says it is reducing overseas staff working in the Kurdish region of Iraq as Islamic State militants push their offensive closer to the area.

Unconfirmed reports say Exxon Mobil (XOM -0.8%) also is evacuating staff from Kurdistan.

The capture of Qara Qosh, east of Mosul, brings the militants within 40 miles of the province of Erbil, where the capital of the Kurdistan Regional Government is located.

Brent crude prices rose above $105/bbl today on the reports, as well as a decline in U.S. oil inventories; West Texas crude moves past $97.

Earlier: Kurdistan oil producers plunge as Islamic militants advance on the region.

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Comments (1)
  • Curtis Love
    , contributor
    Comments (13) | Send Message
     
    Very good thinking about getting American workers out of the war region as these crazies are really nuts over there in Iraq. Thanks
    9 Aug 2014, 12:57 PM Reply Like
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