Exclusive-Exxon Mobil approached Iraq about buying Lukoil’s West Qurna oilfield stake, sources say

• Exxon Mobil has approached Iraq regarding the potential acquisition of Lukoil's stake in the West Qurna oilfield, indicating a strategic interest in expanding its operations in the region. This move aligns with ongoing trends in the energy sector where major companies are actively seeking to enhance their portfolios through acquisitions.
• The acquisition of Lukoil's stake could significantly bolster Exxon's position in the Middle Eastern oil market, providing access to valuable resources and potentially increasing its production capacity. This aligns with Exxon's broader strategy to secure energy assets amid fluctuating global oil prices.
• The interest in Lukoil's assets reflects a larger trend among energy companies, including Chevron, which is also exploring opportunities within Lukoil's global operations. This competitive landscape highlights the ongoing shifts in the oil market, driven by geopolitical factors and the need for diversification in energy investments.

— via World Pulse Now AI Editorial System