NEW YORK: US energy giant ExxonMobil Corp has formally exited the West Qurna 1 oilfield in southern

IRAQ’S oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy. Since the start of 2021, plans by Russia’s Lukoil and United States oil major Exxon Mobil to sell stakes in major fields to Chinese state-backed firms have hit the buffers after interventions from Iraq’s oil ministry, according to Iraqi oil officials and industry e

In the coming years, we should not expect any ambitious oil and gas projects with Russian involvement in the Middle East, Fund for National Energy Security Director Konstantin Simonov believes. A period of expansion has been followed by a comedown and any new projects will advance carefully and inc