Turkey and BP Reshape the Balance of Power in Northern Iraq

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Turkey's state-owned TPAO and BP have signed a cooperation agreement with BP, potentially shifting the balance of power in northern Iraq's oil and gas sector, with Kirkuk being the immediate priority.

Market Impact

Market impact analysis based on bullish sentiment with 80% confidence.

Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term

Article Context

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The recent announcement that Turkey’s state-owned TPAO has signed a wide-ranging oil and gas cooperation agreement with Great Britain’s BP marks a potentially significant shift in the strategic landscape of northern Iraq. The new framework — covering field development, exploration, export capacity and regional gas transport — places both companies squarely at the centre of Iraq’s next phase of upstream expansion, with Kirkuk identified as the immediate priority. Coming on the heels of TPAO’s recent cooperation…

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Original article published by OilPrice.com on February 26, 2026.
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