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Hess suspends operations in Kurdistan

  • Hess (NYSE:HES) has suspended its oil-drilling operations in Iraqi Kurdistan and is beginning to evacuate non-essential staff due to the escalating violence in the region.
  • "It has been decided, as a precautionary measure, to temporarily secure and suspend operations, including the drilling of the Shireen-1 exploration well in the Dinarta licence," says Petroceltic (OTC:PTIFF), Hess' minority partner.
  • Other companies have also started to evacuate staff and suspend operations in the region, including Chevron, Afren, Oryx Petroleum and Genel Energy.
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