Exxon notifies Baghdad of intent to sell West Qurna 1
After receiving an ultimatum from Baghdad, Exxon is heading for the exits – and Iraq's top oil official says more companies may soon be forced to follow.
Rick Vierbuchen (R), then president of ExxonMobil Upstream Ventures, shakes hands with Abdul Mahdy al-Ameedi, the director general of the Oil Ministry's Petroleum Contracts and Licensing Directorate (PCLD), after signing an initial deal for the West Qurna 1 field on Nov. 5, 2009. (MOHAMMED AMEEN/Reuters)
ExxonMobil has told Iraq's top oil official that the company is actively seeking to sell its stake in the super-giant West Qurna 1 oil field.
In a recent meeting with Deputy Prime Minister for Energy Hussain al-Shahristani, an Exxon executive said the company "wishes to withdraw from the West Qurna field," according to Shahristani's spokesman Faisal Abdullah.
This content is for registered users. Please login
If you are not a registered user, you may purchase a subscription
or sign up for a free trial