Iraq Courts US Firms for Lukoil Stake Amid Washington Support
Flaring at the West Qurna-2 oilfield, west of Basra in southern Iraq.
Photographer: Haidar Mohammed Ali/AFP/Getty Images
Iraq plans to invite a select group of major US oil companies for direct negotiations over the acquisition of Lukoil PJSC’s stake in the giant West Qurna-2 oil field, as Baghdad accelerates efforts to reshape ownership of one of its key energy assets.
The Oil Ministry said in a statement that it will approach “a limited number” of leading American producers as part of a process to transfer the Russian company’s share in the southern field.