Lukoil (LUKFY.OB) will decide by the end of the year whether to acquire ExxonMobil's (XOM) stake...

|By:, SA News Editor

Lukoil (LUKFY.OB) will decide by the end of the year whether to acquire ExxonMobil's (XOM) stake in the massive West Qurna-1 oilfield in Iraq as it seeks to make up for falling output at depleted Russian reserves. Lukoil already drills in the West Qurna-2 deposit and controls the biggest reserves in the country among the foreign firms that operate there. Exxon has reportedly set a bid deadline of December 5.