BP Shifts Strategy, Eyes Investments in Iraq and Permian Basin ...Middle East

Full Story on PiQ SuiteBP drops oil output target in strategy resetBP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.BP is currently in talks to invest in three new projects in Iraq, including one in the Majnoon field, the sources said. BP holds a 50% stake in a joint venture operating the giant Rumaila oilfield in the south of the country, where it has been operating for a century.It will also weigh acquiring assets in the prolific Permian shale basin to expand its existing U.S. onshore business, which has expanded its reserves

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Last updated : 07 October 2024 clock 09:36 AM

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BP Shifts Strategy, Eyes Investments in Iraq and Permian Basin ...Middle East

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