Iraq Invites U.S. Firms to Seize Russia’s Oilfield Prize

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Iraq has invited US energy firms to develop the West Qurna 2 oilfield after Russia's Lukoil withdrew due to US sanctions, marking a shift in Iraq's trajectory away from Russia and China and towards the US and Europe.

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Market impact analysis based on bullish sentiment with 74% confidence.

Sentiment
Bullish
AI Confidence
74%

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Iraq’s Oil Ministry has revealed that it has sent out exclusive invitations to several major U.S. energy firms to develop the country’s huge West Qurna 2 oilfield following the withdrawal of Russian oil number two Lukoil after Washington ratcheted up sanctions on Moscow. “It’s a huge turnaround in the trajectory it [Iraq] had been headed with Russia and China, marking a massive win for us [the U.S.] and Europe,” a senior legal source who works closely with the U.S. Treasury Department exclusively told OilPrice.com…

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Original article published by OilPrice.com on December 9, 2025.
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