Iraq Prefers Lukoil & CNPC for West Qurna, Tesoro/BP Merger Challenged: Energy Biz Recap

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

A senior oil official said that the government of Iraq would prefer offers by Russia’s Lukoil (LUKFY.PK) and China’s CNPC to acquire Exxon Mobil Corporation’s (NYSE:XOM) interest in the humongous West Qurna-1 oilfield, commenting to Reuters that “During two separate meetings with executives from CNPC and Lukoil, Iraq informed the companies that it favors their contribution to purchase Exxon’s share in West Qurna-1 oilfield.”

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

In California, Consumer Watchdog’s President Jamie Court and Energy Project Director Liza Tucker have written to the state’s Attorney General Harris, reiterated the organization’s request to disallow the merger of Tesoro Corporation (NYSE:TSO) and BP (NYSE:BP), noting that if the former takes over the latter’s refinery in Carson, the move would leave two firms, namely Tesoro and Chevron Corporation (NYSE:CVX), in control of 54 percent of California’s already highly concentrated gasoline market.

Don’t Miss: Is the New Gulf of Mexico Oil Explosion Big Trouble?

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business