BP and ConocoPhillips are expected to announce multi-billion-dollar new investments in Iraq, CNBC reported citing sources. The moves align with Washington’s goal to strengthen Iraq’s energy sector and cut reliance on supply routes vulnerable to Iranian disruption. While the exact $ amounts were not provided, the capex signal is supportive for upstream exposure in the region.
BP and ConocoPhillips are expected to announce multi-billion-dollar new investments in Iraq, CNBC reported citing sources. The moves align with Washington’s goal to strengthen Iraq’s energy sector and cut reliance on supply routes vulnerable to Iranian disruption. While the exact $ amounts were not provided, the capex signal is supportive for upstream exposure in the region.
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