BP (NYSE:BP) and Iraq's government will sign a major deal covering four Kirkuk oil and gas fields by the first week of February, which would be larger than a 2023 deal with TotalEnergies valued at $27B,

Iraq and British oil giant BP are set to finalise a deal by early February to develop four oil fields in Kirkuk and curb gas flaring, Iraqi authorities announced Wednesday.

BP p.l.c. (NYSE:BP) shares fell premarket on Tuesday after the company updated fourth-quarter guidance. The company expects upstream production to decline compared to the previous quarter, with decreases in both oil production and gas & low-carbon energy.

Iraq and British oil major BP will sign a mammoth deal covering four Kirkuk oil and gas fields by the first week of February, Oil Minister Hayan Abdel-Ghani told Reuters during a visit to Britain.

By bnm Gulf bureau Iraq will sign a massive deal with BP covering four Kirkuk oil and gas fields by early February that will exceed the value of TotalEnergies' $27bn Basra agreement, Oil Minister Hayan Abdel-Ghani told Reuters during his UK visit on January 15,