BP signs $25bn deal to redevelop Iraq’s oil and gasfields as it slashes investments in renewable energy - BP previously committed to cut oil and gas production by 40 per cent by 2030

BP had stalled plans for years citing risks of political instability in the province claimed by Iraq’s autonomous region of Kurdistan. In 2013 BP signed a deal with the Iraqi government “on providing technical assistance relating to the Kirkuk oil field”, according to the company’s annual report for that year.

The state-owned North Oil Company (NOC) and British Petroleum (BP) signed on Tuesday an agreement to develop four oil fields in Kirkuk.

Iraq and BP have signed a significant agreement to redevelop Kirkuk's oil and gas fields. This development aims to increase oil output that has been restricted due to years of conflict and instability in the region.

The energy giant's announcement of the tie-up comes as it finalises plans to ditch renewables targets set under previous CEO. View on euronews

UK energy company BP has signed an agreement with the Iraqi government to invest in several giant oilfields in Kirkuk, in a move expected to provide a big boost to the Opec producer's energy production.

BP has signed a significant agreement with Iraq to redevelop four oil and gas fields in Kirkuk, aiming to increase production and support domestic energy needs. The project involves an investment of up to $25 billion and highlights a shift back to oil from renewables for BP.