Exxon cuts Kurdistan portfolio by half

ExxonMobil CEO Rex Tillerson (second from left) meets with KRG President Massud Barzani (fourth from right) and other senior Kurdish officials in Davos, Switzerland, on Jan. 23, 2013. (Photo credit: Kurdistan Regional Government)
The American super-major, whose 2011 contracts with Kurdistan spurred an investment bonanza, has relinquished the Qara Hanjeer, Arbat East, and Betwata blocks.
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    Q&A: Iraqi Oil Minister Jabbar al-Luiebi

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  • A mortar lands by a Peshmerga convoy outside the village of Imam Raza, 20 kilometers north of Mosul, Oct. 20, 2016. (PATRICK OSGOOD/Iraq Oil Report)
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    Deputy Finance Minister Fadhil Nabee Othman (middle right) and Iraqi Central Bank Governor Ali al-Alaq (middle left). (Source: Iraqi Finance Ministry)

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Iraq faces tough cuts after OPEC deal

Iraq's delegation to the Nov. 30 OPEC meeting, led by Oil Minister Jabbar Ali al-Luiebi (center) and SOMO Director General Falah Alamri (third from left). (Source: OPEC Media Office)

For the first time in decades, Baghdad is confronting the fiscally and politically fraught challenge of deciding how to cut oil production, following Wednesday's OPEC agreement.