Exxon notifies Baghdad of intent to sell West Qurna 1
After receiving an ultimatum from Baghdad, Exxon is heading for the exits – and Iraq's top oil official says more companies may soon be forced to follow.
Rick Vierbuchen (R), then president of ExxonMobil Upstream Ventures, shakes hands with Abdul Mahdy al-Ameedi, the director general of the Oil Ministry's Petroleum Contracts and Licensing Directorate (PCLD), after signing an initial deal for the West Qurna 1 field on Nov. 5, 2009. (MOHAMMED AMEEN/Reuters)
ExxonMobil has told Iraq's top oil official that the company is actively seeking to sell its stake in the super-giant West Qurna 1 oil field.
In a recent meeting with Deputy Prime Minister for Energy Hussain al-Shahristani, an Exxon executive said the company "wishes to withdraw from the West Qurna field," according to Shahristani's spokesman Faisal Abdullah.
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