Following the U.S. sanctions on Lukoil and Rosneft, “as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine,” Lukoil announced it would sell all of its international assets, initiating a formal process to receive bids from potential buyers. After temporarily giving the West Qurna 2 operatorship to state-run Basra Oil Company, the Iraqi government wants to award the contract to another major oil company and is in talks with Chevron on a potential deal. With improved contract returns in the biggest change in Iraq’s petroleum regulatory landscape in decades, Baghdad seeks to attract more investment in its oil and gas industry by some of the world’s biggest oil firms.
Author: Tsvetana Paraskova
Published at: 2026-01-28 23:00:00
Still want to read the full version? Full article
