Russia’s Lukoil may reduce its stake in Iraqi West Qurna-2 oil project, Chief Executive Vagit Alekperov said on Thursday, adding that Iraq had denied the company such a right for now.
Iraqi Oil Minister Ihsan Abdul Jabbar said last month that Lukoil had sent a formal notification saying it wanted to sell its stake in the West Qurna-2 field to Chinese companies.
The minister later said Lukoil was keen to stay in the country.
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Speaking to reporters, Alekperov also praised the deal reached over the weekend between the Organization of Petroleum Exporting Countries and its allies, known as OPEC+, and said that oil production should be gradually increased.
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