Is Iraq About to Make Its Biggest Geopolitical Pivot in Years? [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
Qurna 2 oilfield after the forced exit of Russian oil number two Lukoil, American oil giant Chevron has emerged as a leading contender. This should occur after an interim nationalisation of the field intended to keep production going as the Russian firm completes its withdrawal. The company is also expected to move ahead shortly with the development of the Nasiriyah project, which comprises four oil exploration blocks in southern Iraq's Dhi Qar province, as well as the development of the Balad oil field in Salah al-Din province. All of this comes as Chevron and ?and private equity ?group Quantum Energy Partners are teaming ?up to bid for all of Lukoil's estimated US$22 billion of international assets, following a dramatic tightening of sanctions by the U.S. in recent weeks. So, does this finally mark a decisive shift in Iraq's geopolitical stance back towards the U.S. and its Western partners, away from Russia, China, Iran, and their allies? The opening for Chevron and other Western
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