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Iraq crushes Lukoil's hopes. (News).(Iraqi cancellation of Lukoil's contract to develop the West Qurna oil field)
Iraq's oil minister has reiterated the cancellation of Lukoil's contract to develop the 7bn bl West Qurna oil field, dashing the firm's hopes of reviving the deal. But other Russian companies are still welcome, Iraqi officials say.
"This issue is closed, because Lukoil did not fulfil any of its contractual obligations," acting oil minister Samir Abdulaziz al-Najm said at a recent press conference in Baghdad.
In the search for a replacement for Lukoil, Iraq is "open to co-operation with any country in the world", al-Najm said. But he added that Russian firms are in a preferential position in negotiations over potential oil deals.
The minister made it …
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