BP eyes role in Iraq

BP is interested in working on a range of oil and gas projects in Iraq, but is waiting for the country’s parliament to pass an oil law and for security to improve before increasing its role, a senior BP executive said on Monday.

International companies have been jostling for position as they look for a potentially lucrative stake in Iraq’s oil future. The country holds the world’s third largest oil reserves and needs billions of dollars of investment to boost output and overhaul ageing infrastructure.

reuters