Iraq is nationalizing a massive russian-controlled oil field (link)
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Date: January 8th, 2026 10:53 AM Author: FUCK LIBS (TDNW)
this thing puts out almost half a million barrels a day (VZ is less than a million in total)
https://x.com/maks_nafo_fella/status/2009252753760026679
thank Trump for his sanctions that made this happen
(http://www.autoadmit.com/thread.php?thread_id=5819043&forum_id=2\u0026show=posted",#49571966) |
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Date: January 8th, 2026 11:06 AM Author: FUCK LIBS (TDNW)
insane tempo I agree
but with Iran looming and Cuba probably going to get cut off from VZ oil, not sure it’s gonna slow down
I mean Trump calling for a 50% increase in the defense budget alone should be a top story
(http://www.autoadmit.com/thread.php?thread_id=5819043&forum_id=2\u0026show=posted",#49572013) |
Date: January 8th, 2026 11:11 AM
Author: ,.,,.,.,,,,,,.....................
US oil companies bidding to take Lukoil's place:
https://www.reuters.com/business/energy/iraq-nationalise-west-qurna-2-oilfield-operations-government-says-2026-01-07/
Jan 7 (Reuters) - Iraq's cabinet has approved plans to nationalise operations at the West Qurna 2 oilfield, one of the world's largest, as the government looks to avert disruptions stemming from U.S. sanctions imposed on Russian stakeholder Lukoil.
State-run Basra Oil Company will take over the oilfield's operations for 12 months, two officials at the firm told Reuters.
"We aim to keep production running smoothly as Iraq navigates uncertainty over U.S. sanctions and will look for potential buyers for Lukoil’s stake during the 12-month period," one Basra Oil official said.
Lukoil declared force majeure in November at West Qurna 2 as it was hit with sanctions alongside fellow Russian oil producer Rosneft as part of U.S. President Donald Trump's push to end the war in Ukraine.
The sanctions have drawn bids from about a dozen investors, including U.S. oil majors Exxon Mobil, Chevron, and private equity firm Carlyle, according to sources.
"The state-run Basra Oil Company will cover local staff salaries, operational expenses, and payments to subcontractors, using an account linked to the Majnoon oilfield to help facilitate the process," an Iraqi oil manager at the oilfield told Reuters.
Production remains steady at around 465,000 to 480,000 barrels per day, the official said.
The government said in a statement on Wednesday that the cabinet had agreed to seek approvals to finance operations through the Majnoon oilfield account, to be boosted by proceeds from crude shipments sold by state oil marketer SOMO.
Lukoil's 75% operational stake in the oilfield was its biggest foreign asset. The company has until January 17 to sell its overseas assets under the latest deadline set by the U.S. Treasury.
The field accounts for about 0.5% of global oil supply and 9% of output in Iraq, OPEC's second-largest producer after Saudi Arabia.
(http://www.autoadmit.com/thread.php?thread_id=5819043&forum_id=2\u0026show=posted",#49572035)
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Date: January 8th, 2026 11:14 AM
Author: ,.,,.,.,,,,,,.....................
Don't forget all the market share Russian weapons manufacturers are losing during this war as they are unable to fill foreign orders. And in the case of a lot of their weapons like SAM batteries, who wants to buy air defenses from a country that can't stop Ukraine from flying glorified Cessnas into their refineries?
(http://www.autoadmit.com/thread.php?thread_id=5819043&forum_id=2\u0026show=posted",#49572046) |
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