For Free Headlines Submit Your Email
Saturday, January 10, 2026 3:11 GMT
The Iraqi cabinet has approved nationalising petroleum operations in the West Qurna 2 oilfield, one of the world's largest, in accordance with the provisions of a service contract signed with Russia's Lukoil, the government said in a statement on Wednesday.The cabinet also agreed to seek approvals to finance operations through the Majnoon oilfield account, to be boosted by proceeds from crude shipments sold by state oil marketer SOMO. “The state-run Basra Oil Company will cover local...More