In a pivotal energy sector development, Chevron has entered exclusive negotiations to take over operations at Iraq’s West Qurna 2 oilfield from Russia’s Lukoil, a move poised to nearly double the field’s output to 800,000 barrels per day. The announcement comes as Iraq intensifies efforts to enhance its oil production capabilities amidst evolving geopolitical scenarios.
Oil Minister Hayan Abdel-Ghani disclosed that Chevron has secured a one-year exclusive right to negotiate the takeover, an endeavor that could elevate Iraq’s oil output…