Core Viewpoint - Exxon Mobil is interested in acquiring Lukoil's majority stake in the West Qurna 2 oilfield in Iraq, marking a significant return of the U.S. company to the region as Lukoil seeks to divest its international assets due to U.S. sanctions [1][2]. Group 1: Exxon Mobil's Interest and Actions - Exxon has approached the Iraqi oil ministry regarding the acquisition of Lukoil's stake in West Qurna 2 [1]. - The U.S. Treasury has allowed potential buyers to negotiate with Lukoil until December 13, but specific deals will require approval [2]. - Exxon previously operated the adjacent West Qurna 1 project before exiting last year [3]. Group 2: Lukoil's Situation - Lukoil is attempting to sell its international assets following U.S. sanctions, with its largest foreign asset being a 75% operational stake in West Qurna 2 [2]. - The West Qurna 2 oilfield produces approximately 470,000 barrels per day, accounting for about 9% of Iraq's total oil output [2]. Group 3: Iraqi Oil Ministry's Position - The Iraqi oil ministry has expressed a preference for Exxon to take over Lukoil's stake, citing Exxon's capacity and experience [5]. - Iraq is actively inviting U.S. oil companies to negotiate for the takeover of West Qurna 2 [5]. Group 4: Recent Developments - In October, Exxon signed a non-binding agreement with Iraq to assist in developing the Majnoon oilfield and expanding oil exports [4]. - Iraq is seeking to accelerate oil and gas production by offering more favorable terms to foreign companies [4].