U.S. extends deadline to June 27 for Lukoil asset talks

WASHINGTON, United States — WASHINGTON — The U.S. Treasury has given companies seeking to buy Russian energy group Lukoil’s global assets until June 27 to continue talks with the Russian company. The extension is the sixth since Washington imposed sanctions on Lukoil and Rosneft in October, according to Reuters. Lukoil said in early November that sanctions were making operations difficult at the West Qurna-2 oil field in southern Iraq and declared a crisis there. The field is one of Iraq’s major producing assets. Iraq’s cabinet agreed in February with Lukoil on transferring operations at the field to Basra Oil Company, which reports to the Oil Ministry. The agreement was said to have been reached under a contract with a consortium formed by Bonatti and Basra Crescent.