9 hours ago
Oil Majors Cut Back Iraq Personnel as Mideast Tensions Rise
(Bloomberg) -- BP Plc, TotalEnergies SE and Eni SpA have reduced staff at oil fields in Iraq as a precaution, as tensions escalate in the region.
The temporary move by the three European oil majors has not impacted production, according to a statement from the Basrah Oil Co., the state-owned oil and gas operator in the area. The companies work on some of Iraq's largest production assets.
The staff drawdown underscores how quickly regional instability can impact global energy supply chains even when direct threats to production are not imminent. Iraq, OPEC's second-largest producer after Saudi Arabia, was pumping about 4.1 million barrels of oil per day as of May, according to data compiled by Bloomberg.
'As a precautionary measure, BP has made the decision to relocate some staff from Iraq,' a company spokesperson said in an emailed statement. Earlier Monday, Eni said it had reduced staff at Iraq's Zubair oil field 'as a precautionary measure.'
Total declined to comment.
BP manages the giant Rumaila field, one of the world's biggest, jointly with Iraq and PetroChina Co. The evacuation has not affected the production process, with Iraqi personnel fully managing the operations and monitoring assets in cooperation with remote operators, according to Basrah Oil Co.
Chinese companies managing fields in southern Iraq have not evacuated staff and 'work continues smoothly,' Basrah Oil Co. said. Russian firm Lukoil's personnel levels in Iraq are also unchanged.
--With assistance from Alberto Brambilla and Francois de Beaupuy.
(Updates with BP comment in the fourth paragraph.)
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