Reuters exclusively reports Iraq formally asks to buy $350 million Exxon oilfield share

Reuters exclusively reported that Iraq has formally asked to buy U.S. energy giant ExxonMobil’s share in one of Iraq’s biggest oilfields. Iraq said last month that Exxon was seeking to sell its 32.7% stake in West Qurna 1, and that the oil ministry had started discussions over a possible purchase. Its sale marks a shift for Exxon, which in 2019 had looked poised to move ahead with a $53 billion project to boost Iraq’s oil output.