September 24, 2021

The Iraqi minister said BP is considering withdrawing from Iraq and Lukoil wants to sell

Reuters, Baghdad, July 3: Iraqi Oil Minister Ihsan Abdul Jabbar (Ihsan Abdul Jabbar) said in a video posted on the Facebook page on Saturday that British Petroleum (BP.L) considering the withdrawal of troops from Iraq, Russia’s Lukoil Oil Company (LKOH.MM) has issued an official notice stating that it hopes to sell its shares in the West Qurna 2 oil field to a Chinese company.

Abdul Jabbar said that the investment environment in Iraq is not suitable to retain major investors.
A source from the Oil Ministry said that these statements were made at the parliamentary meeting on June 29, and Abdul Jabbar was invited to attend the meeting.

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.


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