In late February, Russian state oil company Rosneft inked deals in two new Middle East markets, increasing the regional reach not only of the firm itself but of Moscow too.

On 20 February Rosneft signed a crude offtake agreement with Libya’s state-owned National Oil Corporation (NOC) along with a framework agreement to co-operate with the state firm in the oil and gas sector. The same day, the Russian firm agreed a deal with the Kurdistan Regional Government (KRG) in northern Iraq to buy Kurdish oil and study upstream opportunities (see box, p13). (CONTINUED - 2089 WORDS)