Occidental plans Iraq exit
American oil company Occidental Petroleum has formally notified the Oil Ministry it plans to withdraw from the Zubair project.
South Oil Company workers look toward the flares in the Zubair oil field on Jan. 21, 2010, the day before Eni, Occidental and Kogas signed the contract to develop the field. (ESSAM AL-SUDANI/AFP/Getty Images)
BASRA - Occidental Petroleum is planning to withdraw from the Zubair oil field project - the third international oil company to leave the country in the past three years.
Multiple officials either involved in the Zubair project or familiar with the departure process have confirmed the exit is underway. Occidental's exit appears to be part of a broader strategy, publicized by the company, to reduce its exposure to the region.
This content is for registered users. Please login to continue.
If you are not a registered user, you may purchase a subscription.
If you are not a registered user, you may purchase a subscription.
