Exxon Wants Out Of $50B Qurna Project, Iraqi Official Says

Law360, New York (November 7, 2012, 9:56 PM EST) -- An Iraqi oil official on Wednesday confirmed rumors that have been swirling for weeks that energy giant ExxonMobil Corp. is ready to sell its interest in a $50 billion project to develop West Qurna, one of Iraq’s biggest oil reserves.

Abdul-Mahdi al-Ameedi, the deputy head of the Iraq’s Petroleum Contracts and Licensing Directorate, is widely reported to have said at a Baghdad event that Exxon sent a letter alerting the Iraqi government that it has started talking to other international oil companies about taking on its...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.