Tag Archives | Basra Energy Company (BEC)

Iraqi Cabinet approves BP Plan to spin off Rumaila

By John Lee. The Iraqi cabinet has approved a plan to restructure the ownership of the giant Rumaila oilfield. The field will be taken over by the newly-created Basra Energy Company (BEC), which in turn will be owned by BP and the China National Petroleum Corporation (CNPC). According to a statement from the Ministry of […]