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Live Updates  >  Live Update Details

2026-07-18 01:18:12

[ConocoPhillips Joins BP in Multi-Burdle Oil Field Project in Iraq] ConocoPhillips has agreed to acquire a 42% stake in BP's massive Kirkuk oil field complex in Iraq, a major positive development for the country, which has suffered significant production cuts due to the conflict with Iran. 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 deal contains resources exceeding 3 billion barrels of oil equivalent and has "additional exploration potential." Financial terms of the deal were not disclosed, but Barclays analysts estimated the acquisition price at approximately $400 million.

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