International Oil Companies: Itochu

Name: Itochu

Based in: Japan

Fields in Iraq: West Qurna 1, in which it holds a 19.6% stake through its wholy-owned subsidiary CIECO West Qurna Limited. It acquired the share from Shell in 2018 for $406 million.

From the company’s website:

The [Itochu] Energy Division handles trading of general energy-related products, including crude oil, petroleum products, LPG, LNG, natural gas, and electricity as well as promoting related projects. This Division also promotes exploration, development and production of oil & gas projects.

Regarding our interest in West Qurna, we found it to be a low-risk investment with an extremely high productivity.

For latest news on this company’s activities in Iraq please click here.

A full list of International Oil Companies (IOCs) operating in Iraq under licences granted by the Ministry of Oil in Baghdad can be found here.