Gasoline prices are seen at Lukoil gas station in South Plainfield, New Jersey. Reuters
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OAO Lukoil, Russia's second-largest oil producer, expects to earn at least $2 billion from exporting Iraqi crude in 2014, 17 years after first winning the West Qurna-2 field.Lukoil secured the deposit from former Iraqi dictator Saddam Hussein in 1997 .Lukoil won the field back in 2009 from Iraqi Prime Minister Nouri al-Maliki.West Qurna-2 produced first oil in March inaugurated by Lukoil Chief Executive Officer Vagit Alekperov, who fought for the field since the early days. On July 30, a tanker arrived to the port of Basra in southern Iraq to load 1 million barrels of first oil, owed Lukoil as payback for its investment, the company said that day in a statement.
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