4 FAQs about Energy storage companies with which iraq has trade

Which US energy companies are returning to Baghdad?

After years of watching from the sidelines as Chinese and European firms dominated, US energy companies are suddenly returning. ExxonMobil, Chevron, HKN, and oil services giant KBR have all signed major deals with Baghdad over the past two months. Meanwhile, in the power sector, GE Vernova is expanding operations.

Are energy deals a good investment for Iraq?

Energy deals, beginning with earlier agreements inked with TotalEnergies in 2023 and BP * in 2024, have been an important element of the prime minister's ambitious capital investment agenda, which he has used to project the image of an effective administrator among Iraqis as he pushes for a second term in office.

Why should oil companies invest in Iraq?

Iraq offers some of the world's cheapest-to-produce oil, on a scale that matters to the biggest international oil companies. Few places can match Iraq's combination of low extraction costs and massive reserves. For companies facing depletion elsewhere and needing to build long-term supply, Iraq represents one of the last great opportunities.

What has changed the game in Iraq for US firms?

The current government there is seeking to modify contracts to secure more revenues for the state, and if ExxonMobil's or Chevron's ventures in Kazakhstan do face difficulties, Iraqi production could provide crucial backup. But what has really changed the game in Iraq for US firms is the new contracts on offer.

View/Download Energy storage companies with which iraq has trade [PDF]

PDF version includes complete article with source references. Suitable for printing and offline reading.