BP is considering quitting upstream operations in Iraq, where the supermajor operates the biggest oilfield, Iraqi Oil Minister Ihsan Abdul Jabbar Ismaael said in a video posted on the oil ministry’s Facebook page and quoted by Reuters . Another foreign oil company, Russia’s second-largest oil producer Lukoil, has informed Iraq that it wants to sell its majority interest in the West Qurna-2 oilfield to Chinese firms, the Iraqi minister added. According to Ismaael, Iraq’s current investment climate is not suitable for keeping international oil majors in the country. Talk of BP willing to reshuffle its holdings in OPEC’s second-largest producer Iraq is not new. Last month, The Wall Street Journal reported that BP was considering spinning off its oil assets in Iraq , including its holding in the world’s third-largest oilfield. BP is reportedly working on the plan to create the new company together with China National Petroleum Corporation […]