ConocoPhillips has agreed to acquire BP's 42% stake in Iraq's giant Kirkuk oil field cluster, marking a significant boost for a country that has suffered severe output reductions due to the Iran conflict. In a statement on July 17, ConocoPhillips said the deal is among several agreements signed during Iraqi Prime Minister Ali al-Zaidi’s visit to the United States. The area involved in the deal holds over 3 billion barrels of oil equivalent resources and has “additional exploration potential.” F

ConocoPhillips has agreed to acquire BP's 42% stake in Iraq's giant Kirkuk oil field cluster, marking a significant boost for a country that has suffered severe output reductions due to the Iran conflict. In a statement on July 17, ConocoPhillips said the deal is among several agreements signed during Iraqi Prime Minister Ali al-Zaidi’s visit to the United States. The area involved in the deal holds over 3 billion barrels of oil equivalent resources and has “additional exploration potential.” F

智通财经2026/07/17 17:31

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ConocoPhillips has agreed to acquire BP's 42% stake in Iraq's giant Kirkuk oilfield cluster, marking a significant positive development for a country that has suffered substantial production cuts due to the Iran conflict. In a statement on July 17, ConocoPhillips said the deal was one of several agreements signed during Iraqi Prime Minister Ali al-Zaidi's visit to the United States. The area involved in the transaction holds more than 3 billion barrels of oil equivalent in resources and has "additional exploration potential." The financial terms of the deal were not disclosed, but analysts at Barclays estimate the acquisition price at around $400 million.

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