Seeking Alpha

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.
Comments (1)
  • Larry Smith
    , contributor
    Comments (2502) | 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 Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector