Exxon Wants Out of Southern Iraq: Energy Biz Report

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A senior Iraqi government spokesman said Friday that Exxon Mobil Corporation (NYSE:XOM) is in discussions with Royal Dutch Shell (NYSE:RDSA)(NYSE:RDSB), BP (NYSE:BP), Eni (NYSE:E), Lukoil, and CNPC in regards to divesting its interest in the West Qurna-1 oilfield in the southern part of the country. Exxon anticipates a completion of the sale of the “super-giant oilfield” by the end of December; the company is exiting so that it can focus on exploration projects in Kurdistan, which is currently in a dispute with Baghdad concerning the region’s energy resources.

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