Russian oil company Lukoil has declared force majeure at one of the world's largest oil fields in Iraq. Recent Western sanctions have complicated the activities of the company's overseas assets.
This was reported by Reuters, citing its own sources.
This is the West Qurna-2 oil field, located 65 kilometers from the city of Basra in eastern Iraq. The field is being produced by a company 75% owned by Lukoil.
Due to US and British sanctions, Iraqi state oil company SOMO has stopped the shipment of three batches of crude oil that Lukoil produced at the West Qurna-2 field.
According to Reuters, last week Lukoil sent a letter to the Iraqi Ministry of Oil. In it, the company reported force majeure circumstances that prevent it from continuing normal operations.
An unnamed high-ranking representative of the Iraqi oil industry said that if the causes of force majeure are not eliminated within six months, Lukoil will be forced to stop production and completely withdraw from the project.
As Ukrainian News Agency earlier reported, on November 5, it became known that US and UK sanctions have effectively paralyzed Lukoil's international activities.
Recall that according to Politico, Romania and Bulgaria are trying to protect Lukoil's oil refineries, which have fallen under US sanctions.
We also wrote that in early November, the Bulgarian parliament decided to stop the export of oil products produced at the country's only refinery (owned by Lukoil) due to Western sanctions.
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