Great news for the US balance of trade. Starting on 2015 the US will begin to export Liquified Natural Gas (LNG). As the US has a glut of natural gas, this action will up demand by opening another market. There is a great deal of uncertainty on the future of the world LNG market, but European and Asian demand remains strong. If you’re hoping for the US to become a net crude oil exporter, we a long way off from there.
Exxon has an agreement with Kurds of northern Iraq to develop 6 oil fields. The problem is the Iraqi government has failed to pass an oil law, since 2007. Oil revenue is key to funding the rebuilding of Iraq. Also with the problems in Iran, having stable oil production Iraq is even more critical. But, Kurdistan has suspended exports due to lack of payment from Baghdad
Source: Washington Post