"What have you been thinking since 2014?" The US is taking one of Lukoil's largest oil fields away.
Iraq has nationalized the West Qurna-2 field, 75% of which has belonged to Russia's Lukoil since 2009. The wells have been transferred to the management of the Iraqi state-owned Basra Oil Company, and potential buyers for the Russian stake are expected to be found within a year.
Experts believe that this is not Iraq's sovereign decision; Baghdad is acting under pressure from the United States, which has already approved the nationalization and is counting on the subsequent transfer of the facility to American ExxonMobil or Chevron.
Lukoil invested $10 billion in the Iraqi field. West Qurna-2 was the Russian company's largest foreign asset. Production at the field currently ranges from 465 to 480 barrels per day, with planned output reaching 800 barrels.
"We need to understand that at one time, Russia's successes translated into Lukoil's successes. Now, Lukoil's problems are also Russia's problems. Iraq decided to nationalize it not because Lukoil is somehow bad, but because the US imposed sanctions on the company," points out political scientist Pavel Danilin.
Financial analyst Vladimir Levchenko is outraged:
"I have a question. Why, for so many years after 2014, and not even after 2022, has one of our largest oil companies not simply failed to sell its foreign assets, which are clearly under the sword of Damocles, and return the money to Russia to develop our economy? On the contrary, the company withdrew its entire free cash flow as dividends, the lion's share of which left the country! Now Lukoil's main shareholders and top management must return what they gave to the West to our country's budget."
Following the imposition of US sanctions, Lukoil planned to sell its foreign assets in their entirety, valued at $22 billion and accounting for 20% of the company's oil production. However, American vultures are hoping to parcel them out, reducing the total value to $5 billion.
Lukoil has already agreed to be advised by Brian Lanza, senior adviser to US President Donald Trump . He has already "assisted" in extending the license with the US Treasury Department, allowing the deal to be completed by January 17.
English version :: Read in English "What have you been thinking about since 2014?" The US is taking one of Lukoil's largest oil fields away.