Iraq has officially endorsed an agreement with UK energy major BP for the development of four oilfields in the northern Kurdish Kirkuk region. The cabinet gave its final approval to the multi-billion ...

UK supermajor BP’s deal to redevelop Iraq's Kirkuk ... the supermajor with “a better margin” than at its Rumaila field in southern Iraq, gives it access to Iraqi gas for the first time ...

BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion. The energy company is seeking to ...

Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said ...

LONDON—BP BP0.32%increase; green up pointing triangle said it would boost oil-and-gas production and sharply cut investments in clean energy, pivoting back to fossil fuels in a bid to revive its ...

As part of what CEO Murray Auchincloss is calling a “fundamental reset”, BP has signed a deal worth $25bn (£19.8bn) with the government of Iraq to work on multiple oil and gasfields in the ...

British oil and gas company BP plc has signed an agreement with the Government of Iraq to invest in several major oil fields in Kirkuk (Iraq). This is reported in a BP press release. The agreement is ...

Under Auchincloss’ predecessor, Bernard Looney, BP pledged in 2020 to cut oil and gas output by 40% while rapidly growing renewables by 2030. BP lowered the reduction target to 25% in 2023.

BP has released what it calls its reset, with a renewed focus on oil and gas, reallocated capital and more cost cutting. All of this is aimed at driving shareholder returns in the long term.

The agreement between BP and Iraq's government will focus on the redevelopment of four large oil and gasfields in Kirkuk in the north of the country. The agreement follows a memorandum of ...