BP in talks to invest in three new oil projects in Iraq ...Iraq

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Shafaq News/ The energy giant British Petroleum(BP) is in talks to invest in three new projects in Iraq, informed economicsources revealed on Monday. The sources noted to Al-Arabiya.net, “Thecompany has abandoned its goal of reducing oil and gas production by 2030 asCEO Murray Auchincloss scales back the energy transition strategy to restoreinvestor confidence while returning to the Middle East.”“The company is currently negotiatinginvestments in three new projects in Iraq, including one in the Majnoon oilfield,” they added.BP holds a 50% stake in a joint venture tooperate the giant Rumaila oil field in southern Iraq.“The new agreements are expected to be based ona profit-sharing model, unli

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