Three Energy Stocks Positioned to Benefit From Iraq's Oil Ambitions

M&A · PartnershipCommodity
โดย The Motley Fool·IQUS·Read original
Summary · why it matters

Iraq is seeking to more than double its oil production to between 8 million and 10 million barrels per day within six years, and three major U.S. energy companies are positioned to benefit. Chevron has signed memorandums of understanding for the West Qurna 2 and Nassiriya oil fields, with Iraq wanting Chevron to nearly double West Qurna 2's production to between 750,000 and 800,000 barrels per day. ConocoPhillips recently agreed to buy a 42% interest in BP Energy Company of Kirkuk, supporting redevelopment of four large-scale fields in northern Iraq, and is part of a consortium potentially developing the Akkas gas field. ExxonMobil signed an agreement last year to develop the Majnoon oilfield, which holds an estimated 38 billion barrels of oil in place, after leaving Iraq in 2023.

Impact on stocks 4

Energy▲ · 2 stocks
ConocoPhillips
COP
▲ PositiveDemandrelevance

ConocoPhillips agreed to buy 42% of BP Energy Company of Kirkuk and is part of a consortium for the Akkas gas field, directly benefiting from Iraq's production expansion.

Chevron Corp
CVX
▲ PositiveDemandrelevance

Chevron signed MOUs for West Qurna 2 and Nassiriya fields, with Iraq aiming to nearly double West Qurna 2's output, directly tied to its oil ambitions.

Energy Transition & Power Demand▲ · 1 stocks
Exxon Mobil Corp
XOM
▲ PositiveDemandrelevance

ExxonMobil signed an agreement to develop the Majnoon oilfield, holding 38 billion barrels, after returning to Iraq, benefiting from the production push.

Artificial Intelligence▲ · 1 stocks
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