Chevron, BP Make Strategic Moves in Global Energy Policy, Iraq
Chevron executive appointed to DOE advisory board as BP partners with ConocoPhillips on major Iraq oilfield redevelopment.
The U.S. Department of Energy has appointed a Chevron executive to its Secretary of Energy Advisory Board (SEAB), according to Rigzone. The board provides independent advice and recommendations to the Secretary of Energy on science, energy, and security policy.
Separately, Rigzone reported that BP has entered a partnership with ConocoPhillips for a major oilfield project in Iraq. BP stated that ConocoPhillips will acquire a 42 percent stake in BP's venture to redevelop Iraq's giant Kirkuk oil fields, one of the country's oldest producing regions.
For Bakken operators and royalty owners, these developments highlight the global scale and strategic priorities of the major international oil companies active in North Dakota. Chevron is a leading operator in the Williston Basin, and its increased voice in federal energy policy through the SEAB appointment could influence regulatory and technology development directions relevant to shale production.
The BP-ConocoPhillips partnership in Iraq underscores the continued competition for large-scale, international resource opportunities. ConocoPhillips is also a significant Bakken producer. Major investments in legacy conventional fields abroad can signal where these companies are allocating capital for long-term production, even as they maintain core shale assets like those in the Bakken.
Such global strategic moves by integrated majors can have downstream effects on the Bakken. Policy shaped by advisory boards may impact domestic energy infrastructure and emissions regulations. Meanwhile, international portfolio decisions can influence the pace of investment and technological focus that these companies bring to their North Dakota operations.
Source
Rigzone (Chevron, Cheniere Reps Join DOE SEAB Board; BP and Conoco Partner in One of Iraq's Oldest Oilfields)
