• Friday, 17 May 2024
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Iraqi minister says BP mulls quitting Iraq, Lukoil wants to sell up

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

Iraqi Oil Minister Ihsan Abdul-Jabbar said that BP is considering withdrawing from Iraq and that Russia's Lukoil has sent an official notice stating that it wants to sell its stake in the West Qurna-2 field to Chinese companies.

In a video clip posted on the ministry's Facebook page, Abdul-Jabbar said that "the investment environment in Iraq is not suitable for maintaining large investors. All investors are either looking for another market or looking for another partner."

Oil Ministry sources said that these statements were made by Abdul-Jabbar during a session of the Iraqi parliament on June 29, to which Abdul-Jabbar was invited.

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