Iraqi minister says BP mulls quitting Iraq, Lukoil wants to sell up

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FILE PHOTO: The logo of BP is seen at a petrol station in Kloten, Switzerland October 3, 2017. REUTERS/Arnd Wiegmann/File Photo

July 3, 2021

BAGHDAD (Reuters) – Iraqi Oil Minister Ihsan Abdul Jabbar said in a video posted on Saturday on the ministry’s Facebook page that BP was considering withdrawing from Iraq, and that Russia’s Lukoil had sent a formal notification saying it wanted to sell its stake in the West Qurna-2 field to Chinese companies.

Abdul Jabbar said the investment environment in Iraq was unsuitable for retaining major investors.

The statements were made during a parliamentary session on June 29 to which Abdul Jabbar was invited, oil ministry sources said.

(Reporting by Ahmed Rasheed; Editing by Kevin Liffey)






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