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Exclusive-Exxon Mobil approached Iraq about buying Lukoil's West Qurna oilfield stake, sources say

Published by Global Banking & Finance Review

Posted on December 2, 2025

1 min read

· Last updated: January 20, 2026

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Exclusive-Exxon Mobil approached Iraq about buying Lukoil's West Qurna oilfield stake, sources say
oil and gas investment foreign investment
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Dec 2 (Reuters) - Exxon Mobil has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil's majority stake in the giant West Qurna 2 oilfield, five Iraqi official

Exxon Mobil Considers Buying Lukoil's Stake in Iraqi Oilfield

Dec 2 (Reuters) - Exxon Mobil has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil's majority stake in the giant West Qurna 2 oilfield, five Iraqi official sources with direct knowledge of the matter told Reuters.

Exxon declined to comment and Lukoil didn't immediately respond to a Reuters' request for comment on the matter.

(Reporting by Ahmed Rasheed and Aref MohammedEditing by Bernadette Baum)

Key Takeaways

  • Exxon Mobil is interested in Lukoil's West Qurna 2 stake.
  • Iraqi officials confirmed Exxon's approach.
  • Lukoil has not commented on the potential sale.
  • Exxon's interest highlights strategic oilfield acquisitions.
  • The deal could impact Iraq's oil production landscape.

Frequently Asked Questions

What is Exxon Mobil?
Exxon Mobil is one of the largest publicly traded oil and gas companies in the world, involved in the exploration, production, and distribution of oil and natural gas.
What is Lukoil?
Lukoil is a major Russian multinational energy corporation, primarily engaged in the extraction, production, and sale of oil and gas.
What is the West Qurna oilfield?
The West Qurna oilfield is one of the largest oilfields in Iraq, known for its significant reserves and production capacity.
What is foreign investment?
Foreign investment refers to the investment made by individuals or entities in one country into business interests in another country, often involving the purchase of assets or stakes in companies.

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