BP and ConocoPhillips will announce billions of dollars in new investments in Iraq's energy sector during the US-Iraq Business Summit in Washington. These investments aim to boost Iraq's oil production and diversify export routes to reduce reliance on vulnerable pathways near Iran. The summit will feature over $60 billion in agreements between US companies and the Iraqi government, reflecting a strategic push to strengthen Iraq's energy infrastructure amid regional tensions. Iraqi Prime Minister Ali Al-Zaidi is engaging with major energy firms to accelerate development of oil and gas resources.
Oil shipments through the Strait of Hormuz are below pre-war levels due to Iranian control claims and regional tensions. While Iran asserts tight control, the US Navy escorts some shipments, keeping flow significant. Recent talks between Iran and Oma...
In 2026, Occidental Petroleum led oil and gas stocks with a 46% gain, slightly ahead of EOG Resources and ConocoPhillips, both up 43%. The sector ETF XOP rose 45%, outperforming two of the three companies and nearly matching Occidental. This tight ra...
