Russia ‘s second-largest crude oil producer Lukoil hopes to increase oil output at the West Qurna 2 project in Iraq to 480,000 b/d next year, the company said during a conference call Aug. 27. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Lukoil had previously considered quitting the project in the country due to the current investment climate, but Iraqi authorities refused its request to sell part of its stake. Production at West Qurna 2 in the second quarter was 50,000 b/d lower than the project capacity due to the OPEC+ agreement, Lukoil said. “Next development stage of the project is to reach production of 480,000 b/d. Next year we will increase production from the current 400,000 b/d to 450,000 b/d at the Mishrif formation,” Vice President for Finance […]