Lukoil declares force majeure at its Iraqi oil field, Reuters reports

Lukoil (LUKOY) has declared force majeure as its Iraqi oil field while Bulgaria is slated to seize its Burgas refinery, as the Russian company’s international operations continue to grapple with the stresses of U.S. sanctions, Reuters’ Aref Mohammed and Ahmed Rasheed report, citing sources. The force majeure at the West Qurna-2 field in Iraq represents the biggest hit yet from sanctions imposed don Russian oil giants last month as part of President Trump’s efforts to end the war in Ukraine, the author notes.