Sanctions Snarl Lukoil—Baghdad Pays Up to Protect 480,000 bpd of Oil Production ...Middle East

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Sanctions Snarl Lukoil—Baghdad Pays Up to Protect 480,000 bpd of Oil Production
source : OILPRICE ( Middle East ) () 56
Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a field that supplies roughly 0.5% of global oil and nearly a tenth of Iraq’s output—production that Iraq cannot replace from elsewhere. This is the first visible stress fracture in West Qurna-2 since Washington’s October 22 sanctions froze Lukoil’s ability to move money across…

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