Exxon Mobil (XOM -0.1%) wants to pull out of its contract to develop the huge West Qurna-1...


Exxon Mobil (XOM -0.1%) wants to pull out of its contract to develop the huge West Qurna-1 oilfield in southern Iraq because of concerns over the profitability of the project, diplomatic sources tell Reuters. Iraq reportedly was considering replacing XOM with Russian companies at the field in response to the company's venture into Kurdistan.

From other sites
Comments (1)
  • Larry Smith
    , contributor
    Comments (3171) | Send Message
     
    I don't blame them, they are literally getting paid nickels on the barrel and on top of that Iraq is very slow to pay. The Kurds are offering a much better deal with a production sharing agreement.
    18 Oct 2012, 11:26 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs