Iraq, oil cos agree to restart investment, boost output - RTRS

Reuters quoting comments from Iraqi oil officials that 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.

The Iraqi official further added, “As a result of the investment, Iraq's crude output should increase by 250,000-350,000 barrels per day next year.”

The country now produces about 4.6 million bpd, most of it from the southern region.