Iraq: ExxonMobil confirms WQ-1 pullout

Issue 1125 - 06 May 2021

After ExxonMobil last month confirmed one of the industry’s worst-kept secrets, that it was pulling out of the West Qurna-1 (WQ-1) field – the US supermajor intends to exit its 32.7% operator stake by end-June – oil minister Ihsan Abdul Jabbar Ismail said the government was considering buying its stake via state-owned Basra Oil Company (BOC).

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