Thread regarding ExxonMobil Corp. layoffs

Exxon seeks arbitration over stalled Iraq oilfield stake sale - Platts

Exxon seeks arbitration over stalled Iraq oilfield stake sale - Platts
Jul. 26, 2021 5:39 PM ET
By: Carl Surran, SA News Editor

Exxon Mobil (NYSE:XOM) has filed an arbitration case against Iraq's Basra Oil over the U.S. company's stalled attempt to sell its stake in the giant West Qurna 1 oil field, S&P Global Platts reports.

Operator Exxon entered into an agreement in January with third parties to sell its 32.7% share, a company spokesperson told S&P Global Platts, but in May Iraq's oil minister Ihsan Ismaael said Iraq was seeking to take over the stake itself.

Exxon says divesting the stake is part of its strategy to focus on more cost-efficient assets, particularly in the Americas.

by Anonymous
| 1244 views | | 6 replies (last ) | Reply
Post ID: @OP+1c2eIhIU
Comment! It's anonymous!

6 replies (most recent on top)

The war is over in Iraq. Haven't you heard?
And EM, proud as she was, no longer has a say where or when wars are started.
A very sad state of affairs for the crude old lady.

by Anonymous
| | Reply
Post ID: @1fyw+1c2eIhIU

Fucken shame. We’re letting go of profitable sites but keep bu-----t like kearl alive. Fu-k you darren!!!!!!!!!!!!!

by Anonymous
| | Reply
Post ID: @1khf+1c2eIhIU

Too bad for Darren"s asset sales target!

by Anonymous
| | Reply
Post ID: @1wyn+1c2eIhIU

WASHINGTON, July 26 (Reuters) - Iraq's Prime Minister Mustafa al-Kadhimi said on Monday he wants another American company to replace Exxon Mobil Corp when it exits Iraq.

Exxon, which in 2019 had looked poised to move ahead with a $53 billion project to boost Iraq's oil output, has been seeking to sell its 32.7% stake in one of Iraq's biggest oilfields, West Qurna 1.

"Exxon Mobil is considering exiting Iraq for reasons that are to do with its internal management practices, decisions, and not because of the particular situation in Iraq," Kadhimi told a small group of reporters in Washington after talks with President Joe Biden.

"When Exxon Mobil departs, we will not accept its replacement to be other than another American company," he added, speaking through a translator.

Kadhimi did not specify which American companies might be interested. Chevron Corp also operates in Iraq.

by Anonymous
| | Reply
Post ID: @1idy+1c2eIhIU

that Missing Link pseudo-bot, always so relevant

by Anonymous
| | Reply
Post ID: @1bnz+1c2eIhIU

Who cares

by Anonymous
| | Reply
Post ID: @syj+1c2eIhIU

Post a reply

: