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Russia's Lukoil Declares Force Majeure at Iraqi Oil Field

10 Nov, 22:52
Energy

Russian oil giant Lukoil has declared force majeure at its West Qurna-2 oil field in Iraq, following the imposition of sanctions by the United States and the United Kingdom.

According to sources cited by Reuters, Iraq suspended all financial payments and crude oil shipments to Lukoil after the sanctions came into effect in October, The Caspian Post reports.

On November 4, Lukoil informed Iraq’s Ministry of Oil in a letter that "force majeure conditions" were preventing the company from continuing normal operations at the West Qurna-2 field.

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Russia's Lukoil Declares Force Majeure at Iraqi Oil Field

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Russia's Lukoil Declares Force Majeure at Iraqi Oil Field

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Russian oil giant Lukoil has declared force majeure at its West Qurna-2 oil field in Iraq, following the imposition of sanctions by the United States and the United Kingdom.