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Chevron Moves to Acquire Lukoil's Major West Qurna 2 Oilfield in Iraq
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Why This Matters
Chevron has signed a preliminary deal to discuss the potential acquisition of West Qurna 2 oilfield in Iraq, formerly operated by Lukoil, in a move that could boost Chevron's oil production and expand its presence in the region.
Market Impact
Market impact analysis based on bullish sentiment with 90% confidence.
Sentiment
Bullish
AI Confidence
90%
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.
Chevron has signed a preliminary deal with Iraq’s Basra Oil Company to discuss the potential sale of the giant Iraqi oilfield West Qurna 2, formerly operated by Russia’s Lukoil, to the U.S. supermajor. The preliminary agreement, signed on Monday, allows exchange of confidential data and could lead to exclusive talks for Chevron to take over West Qurna 2, whose operations were recently transferred to the Iraqi state-owned company. The preliminary agreements also establish an outline for a period of exclusive negotiations,…
Original article published by
OilPrice.com
on February 23, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.