Iraqi government approves agreement with LUKOIL on management of West Qurna

The Iraqi government has approved an agreement with Russia’s LUKOIL that restructures the management and operational role at the giant West Qurna‑2 oilfield, including ceding field operations to a local Iraqi company. The deal appears to settle previous disputes over the project and clarifies LUKOIL’s future role in one of Iraq’s key upstream assets, with implications for Iraqi oil output, Russian energy interests, and broader investor perceptions of contract stability in Iraq’s oil sector.

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