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Sunday, February 22, 2026 2:26 GMT
Iraq's Council of Ministers has approved an amicable settlement with Lukoil to transfer petroleum operations at the West Qurna 2 field to Basra Oil Company (BOC). The settlement addresses outstanding matters relating to invoices and the employment of foreign staff, subject to certification by a reputable external auditor. It also designates the tax due on the salaries of foreign employees as final revenue to the state treasury. The West Qurna-2 field, operated by Lukoil under a service...More