02.08.202110:01 Forex Analysis & Reviews: Lukoil revokes decision to sell stake at Iraq field

Local reports say Lukoil has refused to sell its stake in the West Qurna-2 field.

Initially, the company wanted to sell their share because "large investors do not want to invest in Iraq", but the Iraqi Oil Ministry convinced them not to do it.

Back in January, Exxon signed an agreement to sell its stake to PetroChina and CNOOC, but the deal has not been completed until now. According to Iraq oil minister Ihsan Abdul-Jabbar, they are still working on obtaining official permits for the purchase of Exxon Mobil's share in the West Qurna-1 field.

But during a visit to Washington, Prime Minister Mustafa Al-Kadhimi said Iraq wants another company to replace Exxon as a participant in the West Qurna-1 field.

Oil stopped around $ 73 on these news.

On a different note, Israel is accusing Iran for a deadly attack on an oil tanker off the coast of Oman. US and Israeli officials said Iran was to blame for the assault that killed two crew members - a Romanian and a British - aboard Mercer Street. US Navy believes that the tanker was shot by a drone.

Israel and Iran have exchanged numerous accusations of naval attacks over the past months, and this began to happen after world powers began negotiating the restoration of the 2015 nuclear deal. The pact limited Tehran's nuclear activities in exchange for easing US sanctions, so Israel opposes the resumption of the deal.