ConocoPhillips Buys 42% Stake in BP Venture for Iraq’s Kirkuk Oil Fields
ConocoPhillips will acquire a 42% stake in a BP venture that is redeveloping Iraq’s Kirkuk oil fields, the companies said in an announcement Friday. BP retained the remaining stake in the project, which focuses on reviving output at one of the country’s largest and oldest producing fields.
Financial terms of the partnership were not disclosed. The agreement is expected to be signed as part of Iraqi Prime Minister Ali Al-Zaidi’s trip to the United States this week. The transaction occurs alongside parallel negotiations between Chevron and Baghdad to secure investments in large Iraqi oil fields and a proposed pipeline that would bypass the Strait of Hormuz to weaken Iran’s leverage over regional energy supplies.
From the sources (25 posts)
@ericldaugh🚨 NOW: President Trump has just welcome the Prime Minister of IRAQ Ali al-Zaidi to the White House TRUMP: "WE LOVE IRAQ!" This comes as 47 is pushing in the region to be a GUARDIAN of the Strait of Hormuz to keep oil flowing 🇺🇸🇮🇶 Strengt
@rapidresponse47.@POTUS welcomes Iraqi Prime Minister Ali al-Zaidi to the White House: "We love Iraq... this man just won a big election. They are very well represented, I can tell you that." 🇺🇸🇮🇶
@townhallcomRT @WillieNelsonTV: Iraqi Prime Minister Ali al-Zaidi arrives at the White House and is greeted by President Trump.
@whitehousePresident Donald J. Trump Welcomes Iraqi Prime Minister Ali al-Zaidi to the White House. 🇺🇸🇮🇶
@jenniferjjacobsRT @JMRaasch: Trump: “I love Iraq”
@trumpwarroomPresident Trump welcomes the Iraqi Prime Minister to the White House: "We love Iraq... This man just won a big election. They are very well represented, I can tell you that."
@statedeptRT @WhiteHouse: President Donald J. Trump Welcomes Iraqi Prime Minister Ali al-Zaidi to the White House. 🇺🇸🇮🇶
@whitehousePresident Trump Participates in a Bilateral Meeting with the Prime Minister of the Republic of Iraq
@ericldaugh🚨 NOW: President Trump is bringing up Iraq's MASSIVE oil reserves in the Oval Office as Iran panics about the world circumventing the Strait of Hormuz through upcoming pipelines NO other leader has transformed the Middle East like 47! http
@marionawfal🇺🇸🇮🇶 Trump welcomes Iraqi Prime Minister Ali al-Zaidi to the White House. Also Trump: "We love Iraq!" The 2003 Iraq war led to ~300k dead, and turned the country into a failed state Also, Iraqi oil sales today go into US custodianship. T
@rapidresponse47.@POTUS meets with Iraqi Prime Minister Ali al-Zaidi in the Oval Office: "We have a tremendous chemistry together... he won an election that a lot of people didn't anticipate... it was very important to me to have somebody get in there that
@zerohedgeUS BACKS IRAQ-SYRIA OIL PIPELINE TO WEAKEN IRAN’S HORMUZ HOLD
@financialjuice🔴 The US backs Iraq-Syria oil pipeline to weaken Iran’s Hormuz hold.
@firstsquawkU.S. PUSHING TALKS FOR IRAQ-SYRIA OIL PIPELINE TO BYPASS STRAIT OF HORMUZ AND REDUCE IRAN'S FUTURE INFLUENCE OVER GLOBAL ENERGY SUPPLY SPECIAL ENVOY THOMAS BARRACK HAS MET WITH IRAQI AND SYRIAN OFFICIALS AND COMPANIES INCLUDING CHEVRON TO
@staunovoThe US is advancing talks for a pipeline that would carry oil from Iraq to Syria, a route that avoids the Strait of Hormuz and would reduce Iran’s future leverage over global energy supplies. Thomas Barrack, US special envoy for Syria and
@polymarketBREAKING: Chevron & Iraq advance talks on potential pipelines designed to bypass the Strait of Hormuz.
@staunovoChevron Will Explore Creating Strait of Hormuz Alternative for Iraqi Oil U.S. energy major is considering investing in oil fields and a pipeline to boost Iraq’s oil exports #oott
@staunovoChevron and Iraq seek to bypass Strait of Hormuz with Syria pipeline Consortium backing project also includes Syrian-Qatari group and LA venture firm with ties to Trump ally Tom Barrack #oott
@staunovoChevron expects to sign accords with #Iraq on Friday that will advance its negotiations about investing in large oil fields, according to a senior company executive #oott
@cnbcBP, ConocoPhillips to back Iraq with major investment as U.S. seeks to cut Iran's energy hold
@zerohedgeBP, CONOCOPHILLIPS TO PARTNER IN ONE OF IRAQ’S OLDEST OILFIELDS
@chigrl$BP $COP BP, ConocoPhillips to Partner in One of Iraq’s Oldest Oilfields BP Plc said ConocoPhillips will acquire 42% of its stake in a venture that’s redeveloping Iraq’s giant Kirkuk oil fields, a major revival project for the OPEC heavywe
@openoutcrier$COP (+2.0% pre) BP, ConocoPhillips to back Iraq with major investments as U.S. seeks to weaken Iran’s energy hold
@openoutcrier$BP (+1.4% pre) $COP ConocoPhillips to buy 42% stake in BP venture supporting redevelopment of Iraqi oil fields
@staunovoBP Plc said ConocoPhillips will acquire 42% of its stake in a venture that’s redeveloping Iraq’s giant Kirkuk oil fields, a major revival project for the OPEC heavyweight that has experienced output decline since the Iran war began. Financ