Home
[You must be registered and logged in to see this image.]
The Iran-US war threatens a deal worth billions of dollars with Iraq's multi-billion dollar energy giant.
Iraqi government officials said security concerns and contract clauses threatened a multi-billion dollar oil deal with ExxonMobil in the south of the country.
Several weeks ago, the US energy giant appeared to be moving ahead with a $ 53 billion project to boost Iraq's oil production in its southern fields, an important step in the company's ambition to expand.
But officials said a combination of contractual wrangling and security concerns, fueled by rising tensions between neighboring Iran and the United States, could now derail the deal.
Four Iraqi officials involved in the talks, speaking on condition of anonymity because of the sensitivity of the issue, said the negotiations had been stalled by clauses of a contract opposed by Baghdad.
They argued that the main sticking point was the ways Exxon proposed to recover its own development costs, with the company targeting oil sharing from two fields, which Iraq rejects, saying it is an infringement of state ownership of production.
An Iraqi negotiator said Baghdad would not sign the current items proposed by Exxon.
Exxon declined to comment on the terms of the contract or negotiations. "In terms of habit, we do not comment on trade talks," a spokeswoman for the company said in Texas.
"The talks are continuing and we expect an agreement soon," said Fayyad Nima, the undersecretary of the Iraqi Ministry of Oil for upstream activities.
On Wednesday morning, rockets landed on a group of Iraqi and foreign oil companies in Basra province, wounding three people.
The target site includes several foreign and Iraqi companies, including US companies ExxonMobil and Baker Hughes.
[You must be registered and logged in to see this link.]
Iran-US war threatens multi-billion dollar deal with Iraq
The Iran-US war threatens a deal worth billions of dollars with Iraq's multi-billion dollar energy giant.
Iraqi government officials said security concerns and contract clauses threatened a multi-billion dollar oil deal with ExxonMobil in the south of the country.
Several weeks ago, the US energy giant appeared to be moving ahead with a $ 53 billion project to boost Iraq's oil production in its southern fields, an important step in the company's ambition to expand.
But officials said a combination of contractual wrangling and security concerns, fueled by rising tensions between neighboring Iran and the United States, could now derail the deal.
Four Iraqi officials involved in the talks, speaking on condition of anonymity because of the sensitivity of the issue, said the negotiations had been stalled by clauses of a contract opposed by Baghdad.
They argued that the main sticking point was the ways Exxon proposed to recover its own development costs, with the company targeting oil sharing from two fields, which Iraq rejects, saying it is an infringement of state ownership of production.
An Iraqi negotiator said Baghdad would not sign the current items proposed by Exxon.
Exxon declined to comment on the terms of the contract or negotiations. "In terms of habit, we do not comment on trade talks," a spokeswoman for the company said in Texas.
"The talks are continuing and we expect an agreement soon," said Fayyad Nima, the undersecretary of the Iraqi Ministry of Oil for upstream activities.
On Wednesday morning, rockets landed on a group of Iraqi and foreign oil companies in Basra province, wounding three people.
The target site includes several foreign and Iraqi companies, including US companies ExxonMobil and Baker Hughes.
[You must be registered and logged in to see this link.]
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
» A leader in the National Bank: We are committed to the federal decision and to postpone the election
» Al-Hakim: Iraq's future cannot be mortgaged to volatile oil prices
» The conflict of the corridors: the path to development from a historical perspective and the door to
» The Kurdistan Region demands that the federal government spend 1.1 billion dinars.. What is the reas
» Tomorrow, Iraq is preparing to launch a complementary round of gas licensing
» A government move to restore the funds of the Trade Bank of Iraq
» The Central Bank informs France of plans to restructure the banking sector
» A government advisor reveals the fate of the budget tables
» Iranian mediation between Baghdad and Erbil... Revealing the most prominent files of Raisi’s visit t
» Reconstruction and development is a priority.. A parliamentary committee follows up and monitors gov
» Al-Hakim comments on the agreements concluded with Türkiye and confirms: Iraq is on the right path
» Tomorrow... Iraq takes a step that will give it gas equivalent to 200% of imported Iranian gas
» A long and disturbing message.. The Iraqi government “blames” the United Nations because of “other p
» The Governor of the Central Bank and the French Ambassador discuss developments in the banking secto
» Al-Bajari: Iraqi companies will have a great opportunity to work after opening the door to investmen
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to more than 10 bi
» Al-Sudani: The delayed projects left great damage to the level of services in Babylon
» Economist: The fluctuation of the dollar is “the balance of speculators”
» {Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq
» A former MP accuses Türkiye of transferring its conflict with the workers to Iraq
» A call to the Sudanese to remove American forces from Iraq
» Oil Parliament: Ankara holds Erbil responsible for the oil fines it owes
» The government is silent...the reality of removing American forces from Iraq
» The radiation protection law in the first session of the next legislative term
» A Spanish company raises controversy and a representative reveals a parliamentary movement against i
» Sudanese officially requests the end of the United Nations mission in Iraq / documents
» Because its sessions were not held, the Kirkuk Council faces a judicial complaint, and its members d
» Former US Chief of Staff: We slaughtered huge numbers of innocent people in Iraq and other countries
» The Association of Private Banks counts the percentage of shares traded on the stock market during a
» The European Union and Iraq agree to increase cooperation between them
» American Bank: Expectations to increase Iraq’s oil capacity in 2025
» Central Bank Governor to the French Ambassador: The plan to restructure government banks will change
» Integrity confirms working to conclude a memorandum of understanding with the Kuwaiti Anti-Corruptio
» Highlights of the Prime Minister's visit to Babylon
» The Minister of Transport discusses with a Turkish delegation the latest developments in the develop
» Free of charge.. Issuing approximately 13 thousand unified cards for those covered by social protect
» A parliamentary committee advises the government to deter trespassers: Slums are one of the reasons
» Embassy Protection confirms to “Baghdad Today”: The missions are safe and we have taken proactive me
» Water resources resolve the controversy of the “Wadi Al-Tea” project.. It will nourish the Hamrin ic
» After approving the National Security Strategy...a parliamentary movement to host “responsible” figu
» Al-Hakim calls for the distribution of plots of land to the families of the martyrs of the Popular M
» Order 160 Committee completes the “port scandals” papers... and searches for a legal outlet for impl
» It revealed the details of its contract with four companies to complete the census requirements... P
» Egypt, Morocco and Qatar praise the Iraqi Integrity proposal to establish the Arab Law Enforcement C
» The Iraqi Parliament enters its legislative recess and requires holding an “extraordinary” session o
» The Sudanese has not rested since the morning.. He carried out 12 activities and allocated a trillio
» Blinken's agent: Erbil is a strategic ally of Washington in a 360-degree relationship
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
» A leader in the framework: There is no need for early elections...the “legislative” elections will t
» Parliament decides to extend its legislative term by 30 days
» Iraq has the tenth worst economic growth in the world during the last 5 years
» Al-Hakim: The future cannot be mortgaged to volatile oil prices
» It will change the reality of Iraqi banks.. Al-Alaq reveals a plan that enjoys Sudanese support
» MM&C 5/9/24 The Federation of Chambers of Commerce and the European Union discuss cooperation to fin
» MM&C 5/9/24 Customs, security and economic aspects
» Union of Arab Banks: Iraq's environment encourages investment
» Government advisor: Movement to recover bad debts for the benefit of the Iraqi Trade Bank
» The International Development Bank announces the opening of its new branch in Erbil
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
» Budget delay: the cry for help for paralyzed services and disrupted dreams
» Oil: Completion of projects to improve the quality of petroleum products, and others are under imple
» Chairman of the Securities Commission: 3 million shares, average daily trading volume
» Tamim calls on the countries participating in the meetings of the Arab Administrative Development Or
» Parliamentary Endowments: 39 thousand pilgrims, Iraq’s share, and waiving the religious obligation i
» Washington refers to Iraqi legislation that “does not harm” his international presence, and Baghdad
» Deputy: Extending the legislative term depends on sending the budget schedules
» Parliamentary Legal: 88 draft laws on the parliamentary shelf
» The head of the movement denies any Iraqi-American negotiations to remove the coalition
» A deputy expects to resolve the issue of electing the Speaker of Parliament next week
» Obtaining the approval of the Minister of Electricity to fill the energy shortage in Dhi Qar
» Economist on the decline in dollar prices: My time and it will not reach its official price
» The Iraqi Ministerial Council for National Security approves the 2024-2028 strategy
» Mulla Bakhtiar: Nechirvan Barzani's visit to Iran melted the ice between Erbil and Tehran
» Password "78"... Why did the Sudanese government's interrogations and noisy sessions decline?
» JP Morgan forecasts an increase in the oil capacity of Iraq and other countries in 2025
» Turkish Minister of Transport: The development road will cost $20 billion
» The Supreme Committee for Reconstruction and Investment approves a package of strategic projects
» Work: Preparing a unified national strategy to create job opportunities for youth
» The Prime Minister's financial advisor reduces the risks of the budget deficit
» Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in
» Government Advisor: The Securities Commission represents the governance base for promoting financial
» A unified national strategy to create job opportunities for youth
» A one-week deadline to decide the position of Speaker of Parliament
» Parliament: We coordinate with the competent regulatory authorities to examine medicines
» The Commission suspends the Kurdistan Parliament's voting procedures
» $100 million to localize the pharmaceutical industry
» Increase in external remittances at the Central Bank
» A government advisor reduces the risks of a budget deficit
» Culture: We seek to invest in the stability of the country to advance the tourism sector
» Integrity announces the results of a questionnaire on bribery in real estate registration department
» Parliament comments on Sudanese plan to restructure the government apparatus: It needs radical refor
» The dollar rises again against the Iraqi dinar in Baghdad
» Politician: The government does not deal transparently with the issue of expelling the Americans
» A government bank participating in an accounting project
» Masrour Barzani: The Kurdistan Regional Government has implemented all its obligations and duties
» French Consul: France strengthens relations with the Kurdistan Region
» Studies Center: Sudanese faces the challenges of maintaining sustainable relations with the United S