Exxon Mobil (XOM) calls the bluff of the Iraqi government, informing Baghdad that it plans to...

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

Exxon Mobil (XOM) calls the bluff of the Iraqi government, informing Baghdad that it plans to sell its share in West Qurna-1 oilfield in the southern part of the country. It's the first time Exxon has confirmed speculation of its intention to pull out of the $50B project after it signed exploration contracts with Kurdistan, which upset Baghdad because it lays claim to the autonomous region's oil reserves.