ConocoPhillips Acquires 42% Stake in BP's Kirkuk Oilfield Redevelopment
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ConocoPhillips will acquire a 42% stake in BP's contract to redevelop Iraq's supergiant Kirkuk oilfield. This move comes as US groups return to Iraq to counter China's growing influence over the OPEC member.
The acquisition marks a significant investment by ConocoPhillips in the region, highlighting the renewed interest of American oil companies in Iraq's oil sector amid geopolitical shifts.
ConocoPhillipsBPIraqOPEC
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“Oil major will acquire a 42% stake as US groups return to Iraq to counter China’s growing influence over Opec member”
FT — ConocoPhillips buys into BP’s contract to redevelop Iraq’s supergiant Kirkuk oilfield