×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: APFN | ML | Iraq | Oil

Iraq, BP Sign Initial Deal to Develop Kirkuk Oil Fields

Thursday, 18 January 2018 06:38 AM EST

BAGHDAD (AP) — Iraq and British energy giant BP have signed a memorandum of understanding to develop lucrative oil fields in the country's north.

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 barrels a day. It says the signing took place in Kirkuk on Thursday without giving more details.

As of late last month, the fields around Kirkuk produced around 140,000 barrels a day, all of which went to refineries.

Iraqi forces seized the disputed city of Kirkuk from Kurdish forces in October. The Kurds, who took control of Kirkuk and other disputed areas when Islamic State group swept into Iraq in summer 2014, exported oil through their own pipeline to Turkey.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


MiddleEast
Iraq and British energy giant BP have signed a memorandum of understanding to develop lucrative oil fields in the country's north.The Oil Ministry's statement quotes BP's president for the Middle East region, Michael Townshend, as saying that his company will conduct...
APFN,ML,Iraq,Oil
132
2018-38-18
Thursday, 18 January 2018 06:38 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved