Oil Minister: Russian Lukoil wants to sell its stake to a Chinese company in West Qurna 2 field

by **claud39** Wed Jun 30, 2021 10:11 am

Oil Minister: Russian Lukoil wants to sell its stake to a Chinese company in West Qurna 2 field

06/30/202120

Economy News - Baghdad

The Minister of Oil, Ihsan Abdul-Jabbar, announced that he had received a notification from Lukoil to sell its stake to a Chinese company.

Lukoil operates in the West Qurna 2 field in Basra.

Abdul-Jabbar said, in a session hosted by Parliament and seen by "Economy News", that "Lukoil Company sent me a notice that it wants to sell its share to a Chinese company," adding that "BP Oil Company wants to withdraw from Iraq."

He stressed that "the companies that withdrew are Shell and Exxon Mobil, in addition to a British company in Zubair," explaining that the investment environment in Iraq is not suitable for maintaining large investors, all of whom are looking for another market or another partner.

He indicated that in the current situation, the companies are not ready to stay in the country.

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