Russia's decision to forgive nearly all the money owed by Iraq could boost Lukoil's (LKOH.RS) efforts in that country, MDM Bank says. "The debt write-off will certainly help diplomatic relations and indirectly promote Lukoil's attractiveness among Iraqi authorities
it (also) seems that the new Iraqi oil law will be voted on in the coming months," it says, noting Lukoil is still seeking to develop the West Qurna-2 field it was awarded under Saddam Hussein. "Certainly a positive catalyst," it adds. Shares +3.9% at $71.50. (AJL)