NIZHNY NOVGOROD, Russia- Russia's Lukoil may reduce its stake in Iraqi West Qurna-2 oil project, Chief Executive Vagit Alekperov said on Thursday, adding that Iraq had denied the company such a right for now.
Iraqi Oil Minister Ihsan Abdul Jabbar said last month that Lukoil had sent a formal notification saying it wanted to sell its stake in the West Qurna-2 field to Chinese companies. The minister later said Lukoil was keen to stay in the country.
Speaking to reporters, Alekperov also praised the deal reached over the weekend between the Organization of Petroleum Exporting Countries and its allies, known as OPEC+, and said that oil production should be gradually increased.
(Reporting by Maxim Nazarov; Writing by Katya Golubkova; Editing by Edmund Blair) ((email@example.com; +7 495 775 1242;))