ConocoPhillips to Acquire Kirkuk Stake as U.S. Firms Back $60B Iraqi Deals
TL;DR Summary
ConocoPhillips agreed to take a 42% stake in BP’s Kirkuk oil-field complex in Iraq, part of roughly $60 billion in deals signed by U.S. firms to boost Iraq’s economy during Prime Minister Ali al-Zaidi’s Washington visit; Barclays pegs the price at about $400 million, funded by the project’s cash flow, with other signatories including Halliburton, SpaceX Starlink, KBR and JPMorgan Chase, while Kirkuk currently yields around 328,000 barrels per day.
- ConocoPhillips Joins US Firms Vowing $60 Billion for Iraqi Deals Yahoo Finance
- Western oil companies see 'fantastic' future in Iraq, sign agreements Reuters
- Iraq signs 48 deals with US companies during PM’s visit to Washington Al Jazeera
- Iraq and Syria sign agreement to restore oil pipeline that would provide alternative to Strait of Hormuz CNBC
- Chevron Will Explore a Pipeline Bypassing the Strait of Hormuz WSJ
Reading Insights
Total Reads
1
Unique Readers
6
Time Saved
17 min
vs 18 min read
Condensed
98%
3,452 → 70 words
Want the full story? Read the original article
Read on Yahoo Finance