Lukoil’s Iraqi Oil Keeps Flowing as Baghdad Takes Over Sales
An Iraqi oil worker adjusts valves at an oil refinery.
Photographer: Oleg Nikishin/Getty ImagesOil from Lukoil PJSC’s share of a field in Iraq is continuing to flow to global markets, alleviating concerns about supply disruption in the wake of sanctions on the Russian energy giant.
It emerged this month that Lukoil was forced to declare force majeure on shipments from its share of the West Qurna 2 deposit — a step that allows the company to skip its contractual obligations. Payments to the company were also frozen.