Movement Alert｜BP PLC Rises 3.17% in Pre-Market Trading, Iraq Development Contract Covering 30 Billion BOE Boosts Sentiment

Market Focus

Jul 29

On July 29, BP PLC rose 3.17% in pre-market trading, trading at $42.99/share, with turnover of $2.2399 million.

On the news front, BP PLC announced it has signed a first-phase development production contract with Iraq, covering oil and gas reserves exceeding 3 billion barrels of oil equivalent. The company also welcomed Turkish Petroleum's participation in the Kirkuk oil field development project. Previously, ConocoPhillips announced the acquisition of a 42% interest in BP's Northern Iraq joint venture overseeing the redevelopment of four large-scale producing oil fields in the Kirkuk region. The overall investment scale is expected to reach tens of billions of dollars, with the transaction anticipated to close by end of the year. The accelerated project advancement is viewed as supportive of BP's long-term upstream business growth outlook.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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