Bob Dudley, chief executive of oil major BP, moved to reassure investors and industry-watchers that the company's Iraq assets are safe.
Speaking at the World Petroleum Congress (WPC) in Moscow, Dudley told CNBC that BP's operations are located in the south of the country, with reports that Islamist militants are currently leading insurgencies in the north.
"Production's being increased in response to request by the government. It's a long way. We're of course very vigilant," he said.