BAGHDAD - Since entering Iraq’s immensely promising oil sector, foreign companies have faced a number of hurdles, including political disputes, bureaucratic red tape, logistical difficulties, and infrastructure shortfalls.
The Russian oil firm Lukoil is the latest to stumble. On Wednesday the company announced that its development of Iraq’s 12.9 billion barrel West Qurna Phase 2 oil project has fallen behind. It’s not clear what has caused Lukoil’s delays.
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