The latest news BP Iraq – Oil, oilfields, contracts, production and more – brought to you by Iraq Business News
By Alex Kimani for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. BP To Develop Iraq's Kirkuk Oil Fields On Profit-Sharing Model British oil and gas giant BP Plc (NYSE:BP) will develop Iraq's Kirkuk oil and gas fields based on a profit-sharing model […]
By John Lee. UK-based oil major BP has said that negotiations regarding an integrated redevelopment programme for the Kirkuk region are expected to be complete early in 2025. The non-binding agreement, signed on Thursday, involves the rehabilitation and development of four oil fields in Kirkuk. It also proposes to explore opportunities for investment in power […]
By John Lee. Iraqi Prime Minister Mohammed Shia' Al Sudani oversaw the signing of a comprehensive memorandum of understanding between Iraq's Ministry of Oil and BP to rehabilitate and develop four oil fields in Kirkuk. The Minister of Oil, Hayan Abdul Ghani, and BP's CEO, Murray Auchincloss, signed the agreement. The memorandum includes the rehabilitation […]
By John Lee. Iraq's Deputy Prime Minister for Energy and Minister of Oil, Mr. Hayan Abdul Ghani, has opened a new road in the Abu Sakhir area and a high school in the Al-Zubair district of Basra Province. The inauguration ceremony took place on Thursday and was attended by the Deputy Minister for Extraction Affairs, […]
By John Lee. Oil giant BP has disclosed that it booked a gain of $361 million in relation to the disposal of the group's interest in Iraq's Rumaila field. Its interest in Rumaila was transferred to Basra Energy Company (BECL) in 2021, which BP describes in its results announcement on Tuesday as "an associate of […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Takes First Step Towards Becoming The World's Biggest Oil Producer Iraq's parliamentary oil and gas committee plans to increase the country's oil production to more than five million barrels […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's New Prime Minister Doubles Down On Oil & Gas Deals With China And Russia It is possible that U.S. Secretary of State, Antony Blinken, believed for a moment that […]
From the Iraq Britain Business Council (IBBC): Baroness Nicholson and Christophe Michels led a 30-strong delegation of IBBC Members to Riyadh to meet with Members of the Saudi Iraqi Business Council. The high profile meeting of Members of both Councils met under the auspices of the Saudi Minister of Commerce at the head quarters of […]
One of the most advanced water pumping facilities in Iraq has been constructed at the Rumaila oilfield to help boost oil production and support the field's long-term strategy. Cluster Pump Station Six (CPS-6) is the first CPS facility to be built at Rumaila for around 40 years. It is also the first CPS constructed by […]
By John Lee. The Iraqi Ministry of Oil has officially established the new Basra Energy Company (BECL), which will be the main contractor at the giant Rumaila oilfield, under a Technical Service Contract (TSC). Representing BECL at the ceremony, Zaid Elyaseri (BP) said the field will be developed to reach a peak production of 1.7 […]
IBBC's Autumn conference is back with a bang and open for business engagement. On 22nd November this year the overarching conference topic is looking to the future with 'sustainability'- whether in terms of energy and renewables, the Iraqi economy and its diversification, or sustaining finance, logistics and training. Underpinning much of this is the application […]
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 (BECL), which in turn will be owned by BP and the China National Petroleum Corporation (CNPC). According to a statement from the Ministry of […]
