Reuters reported on Exxon Mobil's plans to buy Lukoil's stake in Iraq

The American company Exxon Mobil has proposed to the Iraqi authorities to acquire Lukoil's stake in the large West Qurna-2 oil field. This was reported on December 2 by the Reuters news agency, citing sources in the Iraqi government.

We are talking about a 75% share of the Russian company, which provides about 470 thousand barrels of production per day. This asset provides about 0.5% of the world's oil supplies and 9% of Iraq's total production.

Exxon had previously worked as an operator at the nearby West Qurna-1 project. The Iraqi Oil Ministry confirmed the start of negotiations with American companies on the transfer of field management, but did not disclose details. The rights will be granted based on the results of the competition.

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On November 26, Reuters reported that Leonid Fedun, former vice president and co-founder of the Russian company Lukoil, sold his stake in the company in early 2025. The businessman's stake was about 10%.

Prior to that, on November 14, it was reported that Lukoil was negotiating the sale of international assets with several potential buyers. It was clarified that the company is also in regular cooperation with the authorities in the regions of its operations.

On October 22, the US Treasury announced the imposition of sanctions against Russian oil companies Rosneft and Lukoil. On October 27, the company announced its intention to sell its foreign assets.

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