Iraq: Iraq, Oil Companies Agree to Restart Investment, Boost Output

Aug 11, 2016 | Ahmed Rasheed and Aref Mohammed, Reuters
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Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing, allowing projects that were halted this year to resume and crude production to increase in 2017, Iraqi oil officials said. The agreements, reached in July and August, effectively delay to the second half of the year projects that the three companies had planned to carry out in the first half, which had been suspended because of low oil prices.