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

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

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.