Commodities & Energy

Reuters exclusively reports BP pulls out of Iraq's Kirkuk field as expansion plans stall

Reuters exclusively reports BP pulls out of Iraq's Kirkuk field as expansion plans stall

Reuters exclusively reported that BP has pulled out of Iraq’s giant Kirkuk oilfield after its $100 million exploration contract expired with no agreement on the field’s expansion, dealing a fresh blow to Iraq’s hopes to increase its oil output. The move comes as Western energy companies reassess their operations in Iraq amid political turmoil following months of anti-government protests and a flare-up in tensions between the United States and Iran in the country.