Chevron Corporation (NYSE:CVX) is one of the Goldman Sachs Energy Stocks: 10 Stocks to Buy.

On February 23, 2026, Bloomberg reported that Chevron Corporation (NYSE:CVX) appeared as the front-runner for control of Iraq’s West Qurna 2 oil field, following the signing of preliminary agreements to launch exclusive talks with Basra Oil Company. The deal enables the Houston-based firm to exchange confidential information and negotiate conditions for the field, which is now controlled by Lukoil PJSC, holding a 75% stake.

Iraq’s cabinet awarded Chevron Corporation (NYSE:CVX) exclusive negotiation rights for 12 months. The procedure still requires permission from the US Treasury and the Iraqi government. The field produces around 480,000 barrels of oil per day and has sparked interest from Exxon Mobil Corporation.

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The United States imposed sanctions on Lukoil, forcing the Russian firm to seek buyers for overseas assets. Lukoil committed in January to sell the majority of its global portfolio to The Carlyle Group under a non-binding, non-exclusive agreement.  Iraqi officials recently authorized a settlement process, moving operations to Basra Oil before any ownership changes.

Chevron Corporation (NYSE:CVX) provides oil and gas energy solutions. It produces crude oil and natural gas, as well as transportation fuels, lubricants, petrochemicals, and additives.

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