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Is Iraq About to Make Its Biggest Geopolitical Pivot in Years?
Market Intelligence Analysis
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Why This Matters
Iraq is considering a significant shift in its geopolitical stance by inviting US energy firms to develop its oilfields, particularly the West Qurna 2 field, following the exit of Russian firm Lukoil. Chevron is emerging as a leading contender for the project. This move could have implications for Iraq's energy sector and its relationships with Western countries.
Market Impact
Market impact analysis based on bullish sentiment with 80% confidence.
Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Following the Iraq Oil Ministry’s recent dispatch of exclusive invitations to several major U.S. energy firms to develop the country’s huge West Qurna 2 oilfield after the forced exit of Russian oil number two Lukoil, American oil giant Chevron has emerged as a leading contender. This should occur after an interim nationalisation of the field intended to keep production going as the Russian firm completes its withdrawal. The company is also expected to move ahead shortly with the development of the Nasiriyah project, which comprises…
Original article published by
OilPrice.com
on January 12, 2026.
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Analysis and insights provided by AnalystMarkets AI.