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Energy

BP deal aims to revamp Kirkuk energy sector

Iraq is once again leveraging upstream development to finance gas and power projects.
Iraqi Prime Minister Mohammed Shia al-Sudani (standing, center), BP CEO Murray Auchincloss (standing, left), and Oil Minister Hayyan Abdulghan (standing, right) oversee the signing of a deal for BP to rehabilitate Kirkuk oil fields and build gas processing and power generation infrastructure at a ceremony in Baghdad on March 26, 2025. (Photo credit: Prime Minister's Office)

BP revives quest for Kirkuk oil deal

A new memorandum of understanding signals a new phase in BP's decade-long pursuit of a deal to rehabilitate major oil fields in Kirkuk.

OPEC-plus concern keeps lid on May production growth

Nationwide crude output is far below developed capacity due to the ongoing northern pipeline outage, southern infrastructure constraints, and — most acutely — quota pressure from OPEC-plus.