BP agreed 18 January to resume its role supporting Iraqi state North Oil’s efforts to ramp up Kirkuk field output to 700,000-750,000 b/d. Oil Minister Jabbar al-Luaibi hailed the deal as part of an “ambitious plan,” claiming “North Oil must restore its glory and its output average to 1.5mn b/d,” Bloomberg reports.

But BP downplays the deal: a spokesman tells MEES “We signed a letter of intent today for an agreement to essentially recommence the agreement we made in October 2013.” (CONTINUED - 262 WORDS)