Iraq Transfers LUKOIL Stake to the US

The United States is supporting Iraq's plans regarding the transfer of the Russian company LUKOIL's stake in one of the country’s largest oil fields, West Qurna-2, to an American company, Bloomberg reports, citing a State Department spokesperson.

“We are encouraged by the Iraqi Ministry of Oil’s preliminary agreements with Exxon and Chevron, as well as the recent commitment to transfer West Qurna-2 to an American operator. The United States will continue to protect American companies’ interests in Iraq,” the agency quotes the spokesperson as saying.