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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Among them is the Iraqi West Qurna field.. The American oil giant continues to sell its non-strategi

    Rocky
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    Among them is the Iraqi West Qurna field.. The American oil giant continues to sell its non-strategi Empty Among them is the Iraqi West Qurna field.. The American oil giant continues to sell its non-strategi

    Post by Rocky Sat 18 Mar 2023, 5:29 am

    Among them is the Iraqi West Qurna field.. The American oil giant continues to sell its non-strategic assets



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    2023-03-18 04:55
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    Shafaq News/ The US ExxonMobil continued the transformation process through the latest process of withdrawing its non-strategic assets, including its investments in Iraq, by selling its stake in West Qurna / 1 field.
    And Standard & Poor's stated in a report seen by Shafaq News agency that ExxonMobil Corporation continues to sell non-strategic assets and focus investment on higher-priority projects, which limits the need to issue more debt, and supports current dividends.



    And she added that after selling its share in the non-operating West Qurna 1 oil field produced in Iraq to Pertamina Indonesia, ExxonMobil's liquidation totaled about $15.6 billion since April 2019, exceeding the $15 billion liquidation plan.
    It indicated that the current divestment program is likely to include assets across Malaysia, the United States, Germany, Equatorial Guinea, Azerbaijan and the Netherlands.
    ExxonMobil's current upstream investment priorities are deepwaters in Guyana and Brazil, LNG projects in Mozambique and Papua New Guinea, and the unconventional US Permian Basin, which it views as key strategic development areas.
    Exxon Mobil seeks to sell its 32.7% stake in the West Qurna / 1 field. The West Qurna field is one of the large oil fields in Iraq. Oil was extracted from it for the first time in 1973, and it is estimated that it contains oil reserves of 24 billion barrels.
    During the year 2010, Iraq signed several contracts with international companies to develop its oil fields within the first and second licensing rounds, and those fields were mostly concentrated in the southern fields.
    The other partners in the field are the Japanese Itochu (19.6%), the Indonesian Pertamina (10%) and the Iraqi State Oil Exploration Company (5%).
    He wanted to replace Exxon Mobil with another American company of no less weight than the American company that seeks to get out of the field, or for the Basra Oil Company to establish its share in the field.
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