U.S. backs Iraq plan to move Lukoil West Qurna-2 to American firm

The U.S. government is backing Iraq's plan to transfer Lukoil PJSC's stake in the West Qurna 2 oil field to a U.S. company.

“We are encouraged by the Iraqi Ministry of Oil’s initial agreements with Exxon and Chevron, the recent commitment to transition West Qurna-2 to a U.S. operator,” a State Department spokesperson said.

It was noted that the U.S. will continue to champion the interests of American companies in Iraq.

Iraq’s Oil Ministry last week said it’s approaching U.S. companies to take over the majority holding in West Qurna 2, which pumps about 10% of the country’s crude. The U.S. administration’s preference is for the Russian firm’s global assets to be taken over by a U.S. entity.