ERBIL — The giant British multinational oil and gas company, British Petroleum, is considering to withdraw from Iraq, said Iraq’s Oil Minister Ihsan Abdul Jabbar.

The minister made the announcement in a video posted on the ministry’s official Facebook page on Saturday.

He also confirmed that Russia's Lukoil had already sent a formal notification saying it wanted to sell its stake in the West Qurna-2 field to Chinese companies, Reuters cited the minister.

Abdul Jabbar said the investment environment in Iraq was unsuitable for retaining major investors.