ExxonMobil Eyes Iraq's West Qurna Two Oilfield
Update: 2025-12-02
Description
ExxonMobil Eyes Iraqs West Qurna Two Oilfield: A Shift in Global Energy LandscapeExxonMobil, a major American oil company, has reportedly expressed interest in acquiring a significant stake in Iraqs West Qurna Two oilfield, currently held by Russian company Lukoil. This development comes after Lukoil declared force majeure due to international sanctions, leading to Iraqs state oil marketing company canceling crude loadings. Lukoil had previously agreed to sell its international assets to Gunvor, but the deal was withdrawn due to U.S. Treasury Department disapproval. Iraq is actively working to stabilize the field, paying local staff directly to prevent slowdowns. The future ownership of West Qurna Two is a key point of interest in the global energy market.
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