Iraq is beginning to recover some of its lost oil production after disruptions around the Strait of Hormuz affected its energy operations.
BP CEO Meg O'Neill said that some of the 100,000 barrels per day of Iraqi oil production previously cut due to the disruptions has now been restored.
The update offers a fresh sign of recovery for Iraq's oil industry. However, production has not yet fully returned to the levels seen before the disruptions.
The Strait of Hormuz remains an important route for global oil shipments. Any disruption in the waterway can affect the movement of crude oil from major Middle Eastern producers.
Iraq has been particularly exposed to these challenges because a large share of its oil exports normally passes through the strait.
The latest update from BP is therefore important for both Iraq's energy sector and international oil markets.
BP confirms partial recovery in Iraqi oil production
BP's latest update indicates that some of the production previously taken offline in Iraq has returned.
The company had earlier been asked to reduce output at the Rumaila oilfield by 100,000 barrels per day. The reduction came as disruptions around the Strait of Hormuz affected ...