Bp iraq news The top news stories, field reports and insights from the Middle East and beyond. The project holds the potential for enhanced oil output and renewable energy integration. The Company distributes fuels, heating oils, lubricants, bitumen, petrochemicals, and solar powered energy. The Rumaila Operating Organization is a joint venture between BP, Iraq’s state-owned Basra Oil Co. “bp Mar 11, 2025 · By John Lee. This agreement follows the initial deal signed in August 2024 to develop the oilfield in northern Iraq, including the construction of power and solar plants. BP, Iraq Advance Redevelopment of Kirkuk Oil and Gas Fields by Bloomberg | Mitchell Ferman | Thursday, December 19, 2024 | 9:00 AM EST. Feb 25, 2025 · bp today reached agreement on all contractual terms with the Government of the Republic of Iraq to invest in several giant oil fields in Kirkuk providing for the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration. Hayan Abdul Ghani, Deputy PM for Energy Affairs and Minister of Oil, and bp chief executive Murray Auchincloss, together with Nader Zaki, bp regional president for Middle East and North Africa, and Zaid Elyaseri, bp President Iraq. The Nov 27, 2024 · Shafaq News/ British energy giant BP is set to launch a major development project in Kirkuk's oil and gas sector, focusing on the North Oil Company and surrounding fields, starting in early 2025, Kirk Aug 13, 2024 · BP has signed a preliminary agreement with Iraq to rehabilitate and develop four oil and gas fields in Kirkuk, aiming to stabilize production and reverse decline in the region's crucial oilfields. The official said technical and economic negotiations were progressing well and final contracts could be signed in the first half of February and possibly by the end of this week. It has the ability to produce 5 million barrels of oil per day. The Rumaila field is operated by the Rumaila Operating Organisation (ROO) under a Technical Service Contract (TSC) between Basra Oil Company (BOC) and Basra Energy Company Limited (BECL) – a joint venture company between PetroChina and bp – and the State Oil Marketing Organization (SOMO). Mar 13, 2025 · Baghdad (IraqiNews. The agreement, signed in Baghdad on Tuesday under the patronage of Prime Minister Mohammed Shia Al-Sudani, encompasses oil, gas, power and water development, with potential for future exploration investment. Aug 1, 2024 · BAGHDAD, Aug 1 (Reuters) - Iraq has signed a preliminary agreement with Britain's BP , opens new tab to develop the northern Kirkuk oil and gas fields, the Iraqi prime minister's office said on Jan 15, 2025 · Iraq’s state news agency said today that Baghdad and BP had signed a preliminary agreement to evaluate the possibility of redeveloping the Kirkuk oil and gas field and other neighbouring fields Feb 25, 2025 · Iraq and energy giant BP finalised an agreement to develop oil fields in the northern province of Kirkuk, Iraqi authorities and the British company said Tuesday. . BP previously committed to cut oil and gas production by 40 per cent by 2030 Aug 12, 2024 · And just over a week ago, the U. BP was a part of the oil consortium that discovered oil at Kirkuk in 1920. Jan 15, 2025 · BP is one of the biggest foreign players in Iraq’s oil sector, with a history of producing oil in the country dating back to the 1920s when it was still under British mandate. Feb 26, 2025 · The agreement between BP and Iraq's government will focus on the redevelopment of four large oil and gasfields in Kirkuk in the north of the country. and PetroChina Co. The agreement, signed by North Oil Company (NOC) and North Gas Company (NGC), covers the development of the Avana and Baba domes of Kirkuk, Bai Hassan, Khabbaz, and Jambur fields. The deals come amid ongoing tensions between the central Iraqi government bp has a long history of oil exploration and production in Iraq. “BP is a private company, and this is the most important point. Dec 19, 2024 · Iraq is the second largest oil producer after Saudi Arabia in the Organization of Petroleum Exporting Countries. Feb 26, 2025 · BP was a member of the consortium of oil companies that discovered oil in Kirkuk in the 1920s. com) – British Petroleum’s (BP) CEO Murray Auchincloss revealed on Monday that the company aims to reach an agreement to develop Iraq’s massive Kirkuk oil field in the Jan 15, 2025 · Iraq and British oil major BP will sign a mammoth deal covering four Kirkuk oil and gas fields by the first week of February, Oil Minister Hayan Abdel-Ghani told Reuters during a visit to Britain. Jan 15, 2025 · Oli Scarff/Getty Images News. Feb 25, 2025 · Following a roughly $27 billion deal with TotalEnergies in Basra, this possible BP deal would be the second significant agreement between Iraq and a foreign oil corporation in as many years. The Oil Ministry’s statement quotes BP’s president for the Middle East region, Michael Townshend, as saying that his company will conduct surveys and studies to increase production to 750,000 Aug 2, 2024 · The news agency cited unnamed sources. The fresh agreement follows a memorandum of understanding between BP and Iraq signed in July 2024 – of which technical terms were agreed in December and the majority of commercial terms agreed in January – together with previous work BP has done on the fields in Kirkuk from 2013 to 2019. With estimated reserves of 20 billion barrels of oil equivalent and an initial target of three billion barrels, this project promises a significant feedstock surge. 4 million barrels a day of oil in 2021. This agreement represents a key step in negotiations for the integrated oil and gas redevelopment of several fields in the Kirkuk region, located in northern Iraq. S. 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 history of the British Petroleum Company (bp) in Kirkuk and Iraq can be traced back to the 1920s, when the Aug 25, 2021 · The new Basra Energy Co. The non-binding agreement, signed on Thursday, involves the rehabilitation and development of four oil fields in Kirkuk. Ltd. Aug 12, 2024 · BP and TotalEnergies have signed deals to invest in Iraq's oil sector, including the politically sensitive Kirkuk region. Feb 26, 2025 · By John Lee. Jan 28, 2025 · ERBIL, Kurdistan Region - British Petroleum’s (BP) Iraq branch chief on Tuesday said that the company’s new agreement to redevelop four key oilfields in Kirkuk province will bolster the local Jan 9, 2025 · And now into the scene steps UK oil and gas giant BP, having agreed on 19 December to the final terms to develop Iraq’s huge Kirkuk oil fields, which have an estimated 9 billion barrels of Jan 15, 2025 · BP’s board chairman, Helge Lund, and Iraq Prime Minister Mohammed Shia Al-Sudani were among those in attendance at Tuesday evening’s meeting in London, where the two sides signed the majority Oct 8, 2024 · Iraq’s trade balance surplus with US at $6bn Iraq has a trade balance surplus of nearly $6 billion with the US, a senior government official has said. Sudani, H. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The British oil giant has a long history with the Aug 5, 2024 · By John Lee. This additional global agreement expands the opportunity for EPCM services and demonstrates our successful partnership and support to bp’s expanding portfolio. This comes from oil exports to the US more than doubling in two years, state-run Iraq News Agency reported, quoting prime minister’s financial advisor Mazhar Mohammed Salih. After years of false starts, geopolitical chaos, and stalled negotiations, the British oil major is reportedly gearing up to invest up to $25 billion Jan 29, 2025 · Hitchen said BP’s willingness to invest in Iraq is important. Feb 25, 2025 · BP has a history in Iraq stretching back to the 1920s. Dec 20, 2024 · British energy major bp has finalised technical terms with the Iraqi Government for the redevelopment of the Kirkuk oil and gas fields. Feb 25, 2025 · Shafaq News/ On Tuesday, the Iraqi government signed an agreement with British energy giant BP to develop and rehabilitate four major oil fields in Kirkuk, in the presence of Prime Minister Mohammed Shia Al-Sudani, marking the “final step” before the official contract is concluded. The Western megadeals may stabilize Iraq’s oil ambitions and play a role in softening Baghdad–Erbil tensions. The two sides signed a preliminary agreement to that effect this Mar 10, 2025 · ERBIL, Kurdistan Region - Iraq’s oil ministry on Monday signed a landmark deal with British energy giant BP to develop four key oil fields in Kirkuk. The contract between North Oil Company (NOC), North Gas Company (NGC) and bp includes the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for Aug 1, 2024 · bp has signed a memorandum of understanding (MoU) with the Government of the Republic of Iraq to negotiate a material integrated redevelopment programme for the Kirkuk region, spanning oil and gas investment, power generation and solar, together with wider exploration activities. Apr 23, 2024 · A father has started legal action against UK oil giant BP over the death of his 21-year-old son. On Wednesday, Iraq's State News Agency confirmed that Baghdad and BP finalised the agreement to evaluate and execute the redevelopment of Kirkuk's oil and gas fields and adjacent areas. BP has estimated Jan 15, 2025 · By John Lee. The deal could be signed by the first week of February, the minister told Reuters. The investment is expected to deliver significant economic benefits to the Kirkuk region including job creation, improved local supply chain capabilities and broader Sep 29, 2022 · In 2021 bp received approximately 43,000 barrels a day of oil from Iraq in such allocations for fees and cost recovery; Rumaila produced around 1. Feb 25, 2025 · Iraq and oil major BP have signed a deal to redevelop four Kirkuk oil and gas fields, BP said on Tuesday, a breakthrough for Iraq, where output has been constrained by years of war, corruption and Jan 23, 2025 · Baghdad and BP's negotiations over a major deal to redevelop Kirkuk's oil and gas fields must include Iraq's semi-autonomous Kurdish region, the Kurdish Prime Minister told Reuters, flagging a Feb 26, 2025 · BP and Iraq finalised technical terms for the redevelopment of the project in December 2024. Despite this, the Kurdistan Region’s oil sector continues to be excluded from direct foreign investment due to persistent legal disagreements with Baghdad regarding contracts signed with foreign companies. The mega-project covers petroleum production, the rehabilitation of existing facilities, the capture and use of natural gas produced alongside crude oil, and potential exploration projects. and, as a standalone company, it will have access to external financing, BP said in a statement. Having been awarded a 10-year exclusive concession to supply and provide into-plane jet fuel services at Erbil International Airport (EBL/ ORER) in Northern Iraq in 2014, we are delighted to now be expanding our services and extending our concession at the Kurdistan hub to 2034 As the capital of the Dec 20, 2024 · BP and Iraq agree on technical terms to redevelop the Kirkuk oilfields, aiming for a deal by early 2025. com) – The Federal Government of Iraq and British Petroleum (BP) have reached a consensus on the essential details of the project to rehabilitate Kirkuk’s oil and gas Feb 25, 2025 · BP (NYSE:BP) and Iraq's government have signed a deal to redevelop four Kirkuk oil and gas fields, Iraq's state news agency reported Tuesday, marking a breakthrough for the country, where Mar 10, 2025 · Shafaq News/ On Monday, the Iraqi Ministry of Oil, represented by the North Oil Company (NOC) and the North Gas Company (NGC), signed a contract with British energy giant BP to develop the Kirkuk oil Oct 7, 2024 · Baghdad (IraqiNews. Jan 31, 2025 · Breaking News: Tokyo Gas Buys 70% in Chevron’s Haynesville Natural Gas Assets. Jan 18, 2018 · BAGHDAD (AP) — Iraq and British energy giant BP have signed a memorandum of understanding to develop lucrative oil fields in the country’s north. com) – A source in the state-owned North Oil Company (NOC) revealed on Tuesday that preparations in oil fields in northern Iraq have been finished in anticipation of London Feb 25, 2025 · Iraq and oil major BP BP. Iraq, BP advance in Kirkuk contract talks - Iraq Oil Report A long-sought deal is getting high-level political attention, and some officials expect to clinch an initial contract in January. BP signs deal with Iraq to invest in Kirkuk oilfields. Feb 10, 2025 · BP’s investment in Kirkuk signifies a resurgence of international corporate confidence in Iraq’s oil sector. com. The Minister of Oil, Hayan Abdul Ghani, and BP's CEO, Murray Auchincloss, signed the agreement. Mar 31, 2010 · Notes to editors The Rumaila field is one of the world’s largest oilfields and currently produces just over one million barrels of oil a day. 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. Hussein Julood alleges the burning off of gas at a BP-run oil field in Iraq - a practice known as Feb 26, 2025 · BP signs $25bn deal to redevelop Iraq’s oil and gasfields as it slashes investments in renewable energy. It also proposes to explore opportunities for investment in power Mar 28, 2025 · BP executive vice-president William Lin commented, “This agreement builds on our long-standing and strategic relationship with the Government of Iraq and delivers access to a material new Dec 24, 2024 · Oil major BP has signed a preliminary letter of technical alignment with H. 85 million barrels a day, in return for a $2 per barrel fee for the incremental production. The BP deal Apr 23, 2024 · The claim letter - which has been seen by BBC News - alleges that Ali's leukaemia and subsequent death was caused by "toxic emissions from the Rumaila oilfield", and that BP is partly responsible Jan 23, 2025 · Leon Neal/Getty Images News. The company has been in talks with the Iraqi Government over the deal since last year. The excess inventory built because of the KBR and bp currently have a global agreement in place for engineering services, under which KBR has played a key role in projects spanning the U. The mega-project […] Mar 12, 2025 · UK-based BP’s planned investment in developing several giant oil fields in Kirkuk could be worth as much as $25bn, including investments in oil, gas, power and water. , North Sea, Iraq, Africa and Azerbaijan. Iraq's Ministry of Oil has signed an initial agreement with BP to develop four oilfields in Kirkuk. The memorandum includes the rehabilitation Nov 26, 2024 · Baghdad (IraqiNews. BP's High-Stakes Return to Kirkuk BP's reemergence in Kirkuk could present significant challenges to both the oil company and Al-Sudani's belief in the future of the country's political environment. Feb 25, 2025 · BP expects the project to commence in 2025. K. will run Rumaila with Iraq’s state-owned Basra Oil Co. Under the deal, which was signed in Baghdad between Iraq's oil minister Hayan Abdel-Ghani and BP CEO Murray Auchincloss, BP will develop four oil and fields in the Kirkuk region, the statement from the Iraqi prime minister's Aug 20, 2024 · Iraq and BP, which is returning after a nearly five-year absence, signed a preliminary agreement earlier this month to develop four oil and gas fields in northern Iraq's Kirkuk. The deal marks a breakthrough for Iraq, where output has been Mar 26, 2025 · An important deal between Iraq's Oil Ministry and BP was signed on Wednesday under the auspices of Prime Minister Mohammed Shia Al-Sudani. com) – The agreement signed by British Petroleum (BP) to develop four oil fields in northern Iraq is anticipated to increase the country’s production capacity by about By John Lee. Feb 25, 2025 · bp today reached agreement on all contractual terms with Iraq to invest in several giant oil fields in Kirkuk providing for the rehabilitation and redevelopment of the fields, spanning oil, gas . BP has reached a contractual agreement with the Government of Iraq to invest in the rehabilitation and redevelopment of several giant oil fields in Kirkuk. Dec 19, 2024 · BP’s history in Iraq actually stretches back ‎to the 1920s when the company that would eventually come to be known as BP helped ‎Iraq locate, produce, and export oil from Baba Gurgur, Kirkuk. Hayan Abdul Ghani, Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil. BP (NYSE:BP) and Iraq's government will sign a major deal covering four Kirkuk oil and gas fields by the first week of February, which would be larger than a 2023 The goal is to increase production to well over 2 million barrels a day – and to do so safely, reliably and efficiently. Today its operations are focused on working in partnership with PetroChina and Basra Oil Company to develop Rumaila, the ‎second-largest producing field in the world, estimated to have around 17 billion barrels of ‎recoverable oil remaining. ’s BP signed a preliminary agreement to rehabilitate and develop four fields in the hugely oil-rich region of Kirkuk in Iraq’s politically sensitive northern Aug 1, 2024 · Iraq has signed a preliminary agreement with British energy group BP to develop the northern Kirkuk oil and gas fields, the Iraqi prime minister's office said on Thursday. Feb 4, 2025 · Oil major BP is expected to spend up to $25 billion over the lifetime of a project to redevelop four Kirkuk oil and gas fields, a senior Iraqi oil official told Reuters, as Baghdad seeks to win Jan 15, 2025 · Iraq and British oil giant BP have signed a major deal to redevelop four key oil and gas fields in Kirkuk. 98% of oil revenues will go directly to the government and people of Iraq. 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 […] Aug 1, 2024 · By John Lee. BP estimates that the Kirkuk oil field contains about 9 billion barrels worth of recoverable Mar 27, 2025 · The final agreement was signed in a meeting in Baghdad with Iraq Prime Minister Mohammed Shia’ Al Sudani, Hayan Abdul Ghani, Deputy PM for Energy Affairs and Minister of Oil, and bp chief executive Murray Auchincloss, together with Nader Zaki, bp regional president for Middle East and North Africa, and Zaid Elyaseri, bp President Iraq. The Feb 4, 2025 · BP is about to make a big bet on Iraq—again. Jan 16, 2025 · UK oil and gas giant bp will sign a deal with the Government of Iraq to redevelop four oil and gas fields in the Kirkuk region in northern Iraq, according to Iraq’s Oil Minister Hayan Abdel-Ghani. We include the allocations we receive in our reporting. Jan 8, 2025 · Baghdad (IraqiNews. The agreement on technical terms to redevelop The Times reports that the Iraq deal will see BP develop four major gas and oilfields in the north, in Kirkuk, with up to 20 billion barrels equivalent of oil and gas being in the region. Iraq will sign a massive deal with BP covering four Kirkuk oil and gas fields by early February that will exceed the value of TotalEnergies' $27bn Iraq's domestic needs. The agreement was formalised by Amer Khalil Ahmed, Director General of the North Oil Company (NOC), and Zaid Al-Yasiri, BP's Iraq Branch Manager, in the presence of Deputy Prime Minister and Minister of Oil Hayan Abdul Ghani Al-Sawad. Rumaila: Delivering for Iraq Rumaila is one of the largest producing fields in the world. BP Iraq serves customers worldwide. April 2, 2025 Baghdad BP Iraq NV manufactures and refines petroleum products. Mar 26, 2025 · bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. Dec 19, 2024 · NEWS. Media reports have estimated the value of BP’s investment at $25 billion; BP has not confirmed that number. A memorandum of understanding (MoU) was signed in London to explore the comprehensive redevelopment of four oil fields in Kirkuk. This history stretches back ‎to the 1920s when the company that would eventually come to be known as bp helped ‎Iraq locate, produce and export oil from Baba Gurgur, Kirkuk Dec 19, 2024 · Dec 19 (Reuters) - British oil major BP , opens new tab on Thursday said it has reached a deal with the Iraqi government on the technical terms to redevelop the Kirkuk oil and gas fields. Dec 19, 2024 · BP Plc and the Iraqi government took another step toward reviving one of the OPEC member’s most prolific oil and gas resources, the Kirkuk field. Dec 20, 2024 · BP also holds a 50 percent stake in a joint venture operating the Rumaila oilfield in southern Iraq, the country’s largest oil field. Feb 27, 2025 · The BP-Iraq agreement centers on revitalizing Kirkuk's oil and gas fields: Baba, Avanah, Bai Hassan, Jambur, and Khabbaz, operated by NOC. 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. Feb 26, 2025 · BP PLC said Tuesday it has agreed final contractual terms with Baghdad for oil and gas exploration and production plans in Kirkuk province. Feb 26, 2025 · UK supermajor BP’s deal to redevelop Iraq's Kirkuk oil and gas fields is “one of the most important transactions” for the company in the last 20 years, chief executive Murray Auchincloss Feb 25, 2025 · BP Plc finalized an agreement with the government of Iraq to redevelop the giant Kirkuk oil fields, a deal that signals a return to the company’s Middle Eastern roots and should help to bolster Feb 4, 2025 · The prospective BP agreement would be the second major deal between Iraq and an international oil company in as many years after an agreement in Basra with TotalEnergies, valued at around $27 billion. After years of false starts, geopolitical chaos, and stalled Apr 23, 2024 · The claim letter - which has been seen by BBC News - alleges that Ali's leukaemia and subsequent death was caused by "toxic emissions from the Rumaila oilfield", and that BP is partly responsible Mar 24, 2025 · Iraq approved BP’s $25B contract to develop key Kirkuk oil fields. BP’s CEO Dec 19, 2024 · Baghdad (IraqiNews. It is not government-owned and has decided to reinvest and expand Nov 28, 2024 · The source told Shafaq News that the BP delegation held a meeting with NOC’s director to discuss the final agreement that would include the development of oil fields in northern Iraq. Dec 3, 2024 · Iraq had to halt operations at the Basra refinery this weekend because of an overflow in fuel oil tanks, Reuters reported today, citing unnamed sources. The stake is large, if low-margin, while recent discussions over Kirkuk – whose discovery in 1927 opened BP’s history in Iraq – offers growth , Robin Mills wrote in AGBI this month. Feb 26, 2025 · Baghdad – Iraq and energy giant BP finalised an agreement to develop oil fields in the northern province of Kirkuk, Iraqi authorities and the British company said Tuesday. Nov 12, 2022 · One BP Rumaila ex-employee, Robert (not his real name), told us: "As the lead contractor, BP's obligation [to the Iraqi government] was to implement best international practices in the operation Jan 9, 2025 · Breaking news and analysis on energy, politics, security and life in Iraq. On the outskirts of Basra, in the south-east of Iraq, lie some of the country's biggest oil exploration areas. com) – Sources indicated that British Petroleum (BP), a British multinational oil and gas company based in London, is in negotiations to invest in three new projects in Iraq Feb 26, 2025 · BP and Iraq finalised technical terms for the redevelopment of the project in December 2024. The Iraqi oil and gas expert Ali Khalil said: “The agreement with Iraq’s Ministry of Oil is expected to help revive output at Sep 30, 2022 · BP and Eni are major oil companies we identified as working on these sites. Feb 2, 2025 · By Shahriar Sheikhlar for the OilPrice. From 2013 to 2019 BP worked with the Ministry of Oil and NOC on technical studies exploring the potential for redevelopment at Kirkuk. Murray Auchincloss said: “This MoU builds on bp’s strategic and longstanding relationship with Iraq. An overview of the Rumalia JV Safety: The Rumalia Way bp for Kirkuk Mar 27, 2025 · The latest news BP Iraq – Oil, oilfields, contracts, production and more – brought to you by Iraq Business News Rebalancing IOCs Positioning in Iraq's Upstream Petroleum Sector By Editor on 1st April 2025 in Ahmed Mousa Jiyad , Iraq Oil & Gas News Jan 17, 2025 · UK supermajor BP signed a deal with the Iraqi government on Tuesday to evaluate redevelopment of Kirkuk oil and gas fields, the Iraqi Prime Minister’s office said. L signed a deal to redevelop four Kirkuk oil and gas fields, Iraq’s state news agency reported on Tuesday. The BP deal is focused on rehabilitating facilities in four oil fields and developing natural gas to support Iraq's domestic energy needs. , a publicly listed arm of Aug 2, 2024 · BP will team up with the government of Iraq to rehabilitate and develop four oil and gas fields in the northern region of Kirkuk. Back in Iraq: BP Puts $25B On the Table BP is about to make a big bet on Iraq -- again. In June, BP and CNPC were the sole winners in Iraq’s first post-war licensing round with a bid which envisaged raising production to 2. Negotiations between BP (NYSE:BP) and the Iraq government over a major deal to redevelop Kirkuk's oil and gas fields must include Iraq's semi-autonomous Kurdish region May 8, 2018 · BP’s presence in Iraq actually began in Kirkuk in the 1920s when the company that is now known as BP helped Iraq to locate, produce, and export oil from Baba Gurgur, which was the largest oil Feb 25, 2025 · (Bloomberg) -- BP Plc finalized an agreement with the government of Iraq to redevelop the giant Kirkuk oil fields, a deal that signals a return to the company’s Middle Eastern roots and should help to bolster production from the OPEC member. E. Culture Bites. Feb 11, 2025 · By Julianne Geiger for the OilPrice. ktzfjj aijwlh gtzz zlzi cfmha lofhdj lqjw lsifjmh nxpx cyr dnc yvjz znwk pymzymy agzm