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BP has no plans to shy away from the Middle East, CEO says - Finance news and analysis from Global Banking & Finance Review
Finance

BP has no plans to shy away from the Middle East, CEO says

Published by Global Banking & Finance Review

Posted on October 5, 2026

1 min read

· Last updated: October 5, 2026

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BP to Maintain Strong Presence in Middle East, Explores Iraqi Export Options

BP's Strategic Initiatives in the Middle East

Commitment to the Region

Oct 5 - BP has no intention of shying away from the Middle East, Chief Executive Officer Meg O'Neill told the Energy Intelligence conference in London on Monday.

Collaboration with Iraqi Government

O'Neill added that BP is working with the Iraqi government to understand options for new export routes, including a northern route.

Conference Reporting and Editorial Team

(Reporting by Anushree Mukherjee, Shadia Nasralla, Stephanie Kelly in London; Editing by Joe Bavier)

Key Takeaways

  • BP is firmly committed to its Middle East footprint, with the region accounting for some 26% of its net crude and NGL production and about 400,000 barrels of oil equivalent per day output as of mid‑2026 (energyintel.com).
  • The company is supporting diversification of export routes by working with Iraq on infrastructure options, notably exploring a northern export corridor via pipelines through Turkey or Syria to bypass the bottlenecked Strait of Hormuz (nrtc.org.iq).
  • BP’s strategy under new CEO Meg O’Neill involves doubling down on core upstream operations and optimizing organizational structure into upstream and downstream units, reinforcing its long‑term Middle East presence (energyintel.com)

References

Frequently Asked Questions

What is BP's strategy regarding the Middle East?
BP plans to maintain its presence in the Middle East and has no intention of withdrawing from the region.
What did BP CEO Meg O'Neill say about the company's Middle East plans?
CEO Meg O'Neill stated at the Energy Intelligence conference that BP will continue its activities in the Middle East.
Is BP involved in exploring new export routes in Iraq?
Yes, BP is working with the Iraqi government to explore new export options, including a northern route.
Where did BP's CEO make these statements?
The statements were made at the Energy Intelligence conference in London.

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