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The United States has backed Iraq’s plan to transfer Lukoil\u2019s majority stake in the West Qurna-2 oilfield to US companies, amid ongoing negotiations and increased geopolitical tensions over energy assets.<\/p>\n<\/div>\n
The United States has signalled support for Iraq\u2019s plan to transfer Lukoil PJSC\u2019s majority stake in the giant West Qurna-2 oilfield to an American operator, as Baghdad moves to replace the sanctioned Russian firm days before a U.S. sanctions waiver is due to expire. According to the original report, Iraq\u2019s Oil Ministry has directly invited U.S. companies to bid to take over management of the field, which supplies roughly 9\u201310% of the country\u2019s crude output. [1]<\/a><\/sup>[6]<\/a><\/sup>[3]<\/a><\/sup>[7]<\/a><\/sup><\/p>\n Iraq has privately flagged ExxonMobil and Chevron as leading contenders, with one source saying Baghdad would prefer Exxon for West Qurna-2 given its prior operation of the neighbouring West Qurna-1 and recent re\u2011engagement in Iraq. Industry accounts also name additional potential bidders , including private equity and regional groups , reflecting a broader scramble for Lukoil\u2019s international assets after Washington\u2019s sanctions. [1]<\/a><\/sup>[3]<\/a><\/sup>[4]<\/a><\/sup>[7]<\/a><\/sup><\/p>\n A State Department spokesperson, speaking to Bloomberg, said: “We are encouraged by the Iraqi Ministry of Oil\u2019s initial agreements with Exxon and Chevron, the recent commitment to transition West Qurna-2 to a US operator,” and added the United States “will continue to champion the interests of American companies in Iraq.” The U.S. Treasury has meanwhile permitted limited, deal\u2011specific negotiations with Lukoil until a December 13 deadline tied to temporary waivers, a window that has sharpened the pace of talks. [1]<\/a><\/sup>[3]<\/a><\/sup>[4]<\/a><\/sup><\/p>\n Operationally, West Qurna-2 has been subject to disruption: Iraqi and industry sources reported a halt to production following a pipeline leak, while Lukoil declared force majeure after U.S. sanctions were imposed. Iraqi state marketer SOMO has taken over sale arrangements for Lukoil\u2019s share and, officials say, was able to sell available quantities without affecting wider field output , a claim intended to reassure markets even as the transfer and repair timeline remains uncertain. [2]<\/a><\/sup>[1]<\/a><\/sup>[6]<\/a><\/sup><\/p>\n The proposed handover carries both commercial and geopolitical weight. For Iraq, securing a U.S. operator promises technical capacity and greater Western investment as Baghdad seeks to boost production under improved contractual terms. For Washington, shifting a strategically important asset from a sanctioned Russian firm to American operators would align economic and foreign\u2011policy aims, while prompting scrutiny over bidder suitability and long\u2011term implications for Iraq\u2019s energy partnerships. [1]<\/a><\/sup>[3]<\/a><\/sup>[4]<\/a><\/sup>[5]<\/a><\/sup><\/p>\n ##Reference Map:<\/p>\n\ud83d\udccc Reference Map:<\/h3>\n
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