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Exxon Mobil sells its stake to Basra and Iraq pays $350 million to the company
- Time: 11/13/2023 10:03:22
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{Economic: Al-Furat News} Economic expert Nabil Al-Marsoumi announced today, Monday, that the American company ExxonMobil sold its stake to the Basra Oil Company, pointing out that Iraq will pay $350 million to the company in taxes.
Al-Marsoumi said on his Facebook account, followed by {Al-Furat News} agency, that “ExxonMobil sold its share to the Basra Oil Company, amounting to 22.7% in the West Qurna/1 field, whose proven reserves amount to 20 billion barrels and produces about 500 thousand barrels per day, or the equivalent of 9 % of oil production in Iraq.
He added, "Iraq will pay 350 million dollars to the American company, but there is a dispute between the two parties regarding the amount of taxes paid by ExxonMobil, as Iraq demands that the American company pay 120 million dollars, while ExxonMobil agreed to pay only 12 million dollars, and it is not yet known whether This agreement has settled the tax issue, or will it be referred to international arbitration.”
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{Economic: Al-Furat News} Economic expert Nabil Al-Marsoumi announced today, Monday, that the American company ExxonMobil sold its stake to the Basra Oil Company, pointing out that Iraq will pay $350 million to the company in taxes.
Al-Marsoumi said on his Facebook account, followed by {Al-Furat News} agency, that “ExxonMobil sold its share to the Basra Oil Company, amounting to 22.7% in the West Qurna/1 field, whose proven reserves amount to 20 billion barrels and produces about 500 thousand barrels per day, or the equivalent of 9 % of oil production in Iraq.
He added, "Iraq will pay 350 million dollars to the American company, but there is a dispute between the two parties regarding the amount of taxes paid by ExxonMobil, as Iraq demands that the American company pay 120 million dollars, while ExxonMobil agreed to pay only 12 million dollars, and it is not yet known whether This agreement has settled the tax issue, or will it be referred to international arbitration.”
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