Chevron (CVX +1%) reportedly has acquired a stake in a new oil exploration block in Iraq’s...

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX +1%) reportedly has acquired a stake in a new oil exploration block in Iraq’s Kurdish region, adding to its existing oil licenses in the region acquired from India's Reliance Industries. The presence of CVX and other western oil majors such as Exxon has stirred anger from Iraq’s central government, which says the Kurds have no right to grant exploration licenses.