BP, Iraq Advance Redevelopment of Kirkuk Oil Fields [Yahoo! Finance]
BP p.l.c. (BP)
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Source: Yahoo! Finance
BP plc ( BP announced an agreement with the Iraq government to redevelop the Kirkuk oil and gas fields in northern Iraq, per a Reuters report. The deal, finalized on Dec. 19, outlines technical terms for a project that aims to boost the field's production capacity while incorporating renewable energy solutions such as power plants and solar infrastructure. BP initially signed a broader development agreement with Iraq in August, reaffirming its commitment to the country's energy sector. Iraq, the second-largest oil producer in OPEC, currently has the capacity to produce approximately 5 million barrels per day (bpd). Kirkuk, a historic oil field discovered in the 1920s with BP's involvement, holds an estimated 9 billion barrels of recoverable oil. This project marks BP's return to one of the world's most significant energy reserves. According to BP executive vice president William Lin, the company aims to finalize a comprehensive contract in early 2025. BP also operates in Iraq's
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BP
Earnings
- 10/30/24 - Beat
BP
Sec Filings
- 12/19/24 - Form 6-K
- 12/10/24 - Form 6-K
- 12/5/24 - Form 6-K
- BP's page on the SEC website