Iraq is struggling to retain foreign oil firms, with Malaysian state firm Petronas the latest to be reducing its exposure to the country. The firm had stated in October 2020 that it was reviewing its presence at Iraq’s Gharaf oil field (MEES, 16 October 2020), and has now informed Iraq’s oil minister of its intention to exit.

An internal oil ministry memo seen by MEES states that Petronas has informed Oil Minister Hayan Abdulghani of its intention to quit Gharaf, its only operating stake in the country. Petronas did not respond to a request for comment, while an oil ministry spokesperson declined to either confirm or deny. (CONTINUED - 1380 WORDS)