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Energy

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.
A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)

U.S. warnings spur Exxon evacuation of expats

Production is unaffected and the security situation appears calm as ExxonMobil evacuates dozens of foreign staff from the West Qurna 1 field, following U.S. claims of threats from Iran.