- ExxonMobil (XOM) has given Iraq's government formal notice it wants to sell part of its 60% stake in the West Qurna-1 oilfield to PetroChina (PTR), WSJ reports.
- The request, subject to review by Iraq's cabinet, comes amid government anger over XOM's separate exploration deals with semi-autonomous Kurdistan in northern Iraq.
- XOM and partner Royal Dutch Shell (RDS.A, RDS.B) have made progress in developing the $50B project; West Qurna-1 now produces 510K bbl/day and could hit 600K by the end of this year.
Exxon tells Iraq it wants to sell part of oilfield stake to PetroChina
Aug 14 2013, 18:15 ET