October 18, 2012 at 15:29 PM EDT
Exxon To Sell Iraqi Stake To Develop Kurdish Region
Exxon Mobil (XOM) is looking to sell its stake in its Iraqi oilfield to focus on developing an area in the autonomous northern Kurdish region, Reuters reported Thursday. Exxon is shopping around for a buyer for its 60% stake in the $50 billion West Qurna-1 project, according to a Wall Street Journal article that cited unnamed sources. Royal Dutch Shell (RDSA) has a 15% stake in the contract. An Iraqi state oil company owns the rest. Exxon is
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