Oil Companies Remove Staff from Iraq

Some major oil companies are evacuating staff from northern Iraq after President Obama authorized targeted airstrikes.

U.S. jet fighters on Friday launched air strikes against Islamic extremists in the Kurdistan region of Iraq, prompting Genel Energy (GEGYF), the largest independent oil producer in the region, to withdraw non-essential personnel from the area. Other oil production companies, including Afren (AFRNF) and Oryx Petroleum, were also withdrawing employees as well as temporarily suspending drilling at some sites.

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