COP · News · 20260813N
Acquisition / Partnership / Divestiture
CONOCOPHILLIPS · 2026-08-13 · Importance 40 · Surprise 42 · In source text
ConocoPhillips agreed to acquire a 42% interest in BP Energy Co. of Kirkuk Ltd. in northern Iraq. The investment supports redevelopment of four oil fields in the Kirkuk area. The transaction expands ConocoPhillips’ upstream presence in Iraq and is expected by third-party reporting to contribute new cash flow, although no purchase price was disclosed.
Key facts
- ConocoPhillips agreed to acquire a 42% interest in BP Energy Co. of Kirkuk Ltd. to support redevelopment of four oil fields in northern Iraq. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | committed | — | ConocoPhillips agreed to acquire a 42% interest in BP Energy Co. of Kirkuk Ltd. to support redevelopment of four oil fields in northern… |