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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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    Al-Kazemi: Iraq wants another American company to replace ExxonMobil

    Rocky
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    • Post n°1

    Al-Kazemi: Iraq wants another American company to replace ExxonMobil Empty Al-Kazemi: Iraq wants another American company to replace ExxonMobil

    Post by Rocky Tue 27 Jul 2021, 7:53 am

    Al-Kazemi: Iraq wants another American company to replace ExxonMobil
    [size=11]Publication date: 27.07.2021 | 08:09 GMT |[You must be registered and logged in to see this link.][/size]
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    Reuters

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    The Iraqi Prime Minister, Mustafa Al-Kazemi, stated that he wants another American company to replace the "Exxon Mobil" oil company when it leaves Iraq.
    Exxon Mobil Corporation, which in 2019 appeared to be proceeding with a $53 billion project to increase Iraqi oil production, is seeking to sell its 32.7 percent stake in the "West Qurna-1" field, one of Iraq's largest oil fields.
    Al-Kazemi told a small group of journalists in Washington, after his talks with US President Joe Biden, yesterday, Monday, that "ExxonMobil" is considering exiting Iraq for reasons related to its internal administrative practices and decisions, and not because of the situation in Iraq.
    He added that when ExxonMobil leaves, Iraq will not accept an alternative to it, except for another American company. Al-Kazemi did not specify which US companies might be interested in acquiring ExxonMobil's stake. 
    And the Iraqi Oil Minister, Ihsan Abdul-Jabbar, had said in May 2021 that Iraq was considering buying ExxonMobil's stake in "West Qurna-1" through the state-owned Basra Oil Company.
    Arranging foreign investments is necessary for Iraq, the second largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), as oil revenues contribute at least 95 percent to the country's income.
    Source: Reuters
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