Exxon keeps its head down as it works Iraq

The fate of the company is apparent, despite the controversy, as it carries on with its seven deals in Iraq.
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 is continuing its work in both Basra and Kurdistan, despite earlier warnings from Baghdad that the company would lose its investments.

The only punishment the company has suffered was levied in late April, when the Oil Ministry decided to exclude Exxon from bidding in a licensing round for 12 exploration blocks later this month. But that penalty fell far short of threats that Baghdad officials issued last fall, when they said the company could lose its contract to develop the super-giant West Qurna 1 field.

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