Home
BP plans to separate its operations in Iraq
12/6/2021 09:33:0
[You must be registered and logged in to see this image.]
BP plans to separate its operations in Iraq
British oil company BP plans to separate its operations in Iraq as an independent company while seeking to shift its focus to low-carbon investments, according to the Wall Street Journal, citing informed sources, Friday.
The newspaper stated that the new company will own the right that BP has in the Rumaila field, one of the largest oil fields in the world in southern Iraq, and will also be owned in partnership with the China National Petroleum Corporation, which is one of BP's partners in the field.
In order to proceed with its plans, the British oil company will first need to secure an agreement with the Iraqi government's Basra Oil Company and the Iraqi National Oil Marketing Company "SOMO", which are part of the Rumaila operating system.
The informed sources said that the move aims to give BP more flexibility to invest in low-carbon energy by enabling it to reduce its spending on oil and gas.
The sources added that BP's plan for its operations in Iraq is very similar to what it announced recently for its operations in Angola.
Last May, BP and Italy's Eni entered talks to merge their oil and gas operations in Angola to establish a company that would be one of the largest energy companies in Africa.
And "BP" is the largest oil company operating in Iraq, investing in the Rumaila oil field, which produces 1.5 million barrels per day, equivalent to 30 percent of Iraq's daily production.
The company has a rich history in Iraq, having entered the country since the 1920s. In 2009, it was the first international oil company to return to Iraq after the fall of Saddam Hussein's regime in 2003.
[You must be registered and logged in to see this link.]
» Two new rounds of oil and gas investment
» Securities Commission: A strategy to transform Iraq into a regional investment center
» Political alliance talks about deciding the parliament presidency
» US forces hinder Iraqi forces' pursuit of ISIS
» Foreign Relations renews its call to preserve Iraq's sovereignty
» Abdul Wahid: Two ruling families seized the salaries of the region’s employees
» End of the state of alert among security formations in Iraq
» Inauguration of the first copper and cable factory in the Kurdistan Region and Iraq
» Kurdistan Regional Government reveals upcoming tripartite meeting to resume oil exports
» "Al-Eqtisad News" publishes the full decisions of the Cabinet session
» Finance Committee: Discussing 2025 budget schedules to begin next month
» 6,000 job positions to appoint top students and certificate holders.. These are the details
» Iraq.. Manufacturing oil well complexes by local hands
» Iraq is ranked 6th in the Arab world and 37th globally in labor force statistics 2024
» State Administration Coalition confirms unity of Iraqi position
» 6 thousand job positions to appoint top students and certificate holders
» 4 new industrial cities
» Implementation of 6 major projects in the capital
» Maysan trains 920 young people to find job opportunities
» Inventing an advanced device in the field of digital communications
» Planning receives 125,000 tablets for the general population census
» Committee to count the number of private public transport vehicles in the country
» Government moves to build 6 new refineries
» Cabinet approves national initiative to support energy and reduce emissions
» Al-Sudani receives the Spanish Ambassador to Iraq and stresses the need for the European Union to ta
» The Ministry of Oil discusses plans and programs to advance refinery sector projects
» The Council of Ministers decides to increase the capital of the Trade Bank of Iraq by 500 billion di
» The President of the Republic confirms to the National Security Advisor that the stability of Iraq i
» Benefiting from the ISIS experience... Türkiye exploits the tension in the region to expand in Kurdi
» Karbala.. Integrity Commission arrests a broker in the Real Estate Registration Directorate and moni
» Al-Sudani: There is a need for the European Union to take more steps to stop the Zionist aggression
» "Leave the money exchanges behind you".. A specialist proposes a "treatment" for the rise of the dol
» Prices are unstable.. The dollar soars by 20 thousand from the official price
» Iraqi oil plummets as Iran-Israel conflict escalates
» Chairman of the Federal Financial Supervision Authority meets with the Head of the Kurdistan Regiona
» Fox News: The Pentagon still refuses to disclose the number of its forces stationed in Iraq
» Ghazi Ajil Al-Yawar.. The first president of Iraq after the American invasion
» US Forces in Iraq 2003-2024
» Al-Sudani directs to “raise” the readiness of Iraqi forces
» Iraq establishes a bank fund to support Gaza and Lebanon
» House and shop rents reach record prices in Baghdad.. Who controls the real estate market?
» Iraq is moving towards new legislation to combat climate change
» Rafidain: Launching social assistance salaries
» The Federal Service Council reveals 6,000 job positions
» The President of the Supreme Judicial Council receives the President of the Iraqi Journalists Syndic
» Al-Sudani gives 48 hours to identify those responsible for security breach in Baghdad
» Sudanese government to suspend official work on October 3
» Ministry of Transport: We have begun clearing Iraqi airspace of arriving, departing and transiting a
» Cabinet decisions for today
» Al-Sudani visits the Joint Operations Command headquarters in Baghdad
» Al-Sudani directs to control and raise the level of security capabilities
» 2025 schedules to be discussed soon...a proactive step to guarantee employees' salaries
» House of Representatives votes on Personal Status Law today
» A new rise in the price of the dollar against the dinar in the Iraqi markets
» 72 various rumors recorded during the current week in Iraq
» Al-Sudani's government... achievements on various levels
» utube 9/28/24 MM&C IQD Update News -Iraq PM - $83 Billion 3 Years - Stability - Global Contracts -
» MP: Strategic facilities in Iraq are fully secured
» Central Bank of Iraq sells more than $250 million in auction today
» Iraq is the fifth largest oil supplier to South Korea in the month
» Launch of the October social assistance payment
» Al-Sudani's advisor explains: Did electronic payment procedures contribute to preserving the dinar's
» Baghdad funds Erbil with 243 billion dinars to pay salaries of the region’s employees
» The Council of Ministers holds its regular session headed by Al-Sudani
» Prime Minister Makes Phone Call to Jordanian King
» Commerce announces launch of new food basket
» Warning to Iraqis: New ways to steal your money and smuggle it abroad
» Former MP: Parliament presidency decision postponed until further notice due to recent events
» Al-Kubaisi: Al-Halbousi has no choice but to support Al-Mashhadani for the presidency of Parliament
» Coordination Framework Leader: Weakness in Cybersecurity Equals Danger of Terrorism
» MP confirms proceeding with questioning the Minister of Transport
» Parliamentary complaint against the Minister of Finance due to the delay in releasing allocations to
» Document: Al-Sadr sues an Iraqi Foreign Ministry employee who refused to interrupt Netanyahu’s speec
» Nechirvan Barzani discusses several issues with the Russian ambassador, including the Kurdistan elec
» Al-Fartousi: There are no hazardous materials in Iraqi ports
» Two rounds of licensing for oil and gas investment in the next phase
» World Green Economy Summit Announces Program for 10th Session
» Minister of Industry counts the number of profitable government companies: I do not support their pr
» This is their value.. 9 American and Asian investment funds trade in the Iraqi market
» Minister of Planning: We have moved forward to draw a new map of the population reality in Iraq
» Completing the procedures for raising pensioners’ salaries in Iraq
» Start accepting service purchase requests
» State Administration Coalition confirms unity of Iraqi position
» Establishing 19 schools with international standards in Kirkuk
» Decrease in illiteracy rates in the region
» Purchase of service for insured workers for retirement purposes
» Implementation of 6 major projects in the capital
» Iraqi oil rebounds amid Middle East escalation
» Baghdad Today publishes the names of those covered by income-generating loans in the Ministry of Lab
» The crisis of fleeing the land of the cedars.. Kurdistan's eye on Lebanese investors, but! - Urgent
» "Air Peak" Enters the Skies of Two US Forces Bases in Iraq
» Revealing the number of citizens in the Hasabi project.. a different number to satisfy Baghdad
» An expert reveals the reason for the fragility of the Iraqi market: Countries want imports to remain
» Market Forces Committee recommends holding an Iraqi-Turkish forum in Baghdad
» Expert proposes a single proposal to confront the decline in oil prices and issues a warning to prod
» Head of Erbil Chamber of Commerce reveals steps to develop trade relations with Russia
» In Al-Sudani’s office, the State Administration Coalition discusses “dangerous” developments in the
» Maxim Malarjuk: Russia has made remarkable progress in the energy sector in the Kurdistan Region Sep