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Iraq has officially sent a request to acquire shares of US energy giant ExxonMobil in the West Qurna 1 oil field.
National Iraqi company Basra Oil Company (BOC) director Khalid Hamza was reported by Reuters as saying in an interview: “A decision has been made and we sent a formal letter to ExxonMobil asking to buy its share.”
Hamza noted the oil and finance ministries will undertake procedures required to secure financing for the possible acquisition, which is estimated to value $350m.
EnergyEXCLUSIVE Iraq formally asks to buy $350 mln Exxon oilfield share
Reuters
3 minute read
A policeman walks at West Qurna-1 oil field, which is operated by ExxonMobil, in Basra, Iraq, January 9, 2020. REUTERS/Essam al-Sudani/File Photo
Iraq has formally asked to buy U.S. energy giant ExxonMobil s (XOM.N) share in one of Iraq s biggest oilfields, West Qurna 1, the head of the state-run oil operating company said on Monday.
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. read more A decision has been made and we sent a formal letter to ExxonMobil asking to buy its share, Basra Oil Company director Khalid Hamza told Reuters in an interview, adding the oil and finance ministries will follow up with procedures to secure the finance.
Iraq formally asks to buy $350m Exxon oilfield share
Exxon logo at a petrol station in the US [Brian Katt / Wikimedia] May 10, 2021 at 10:39 pm
Iraq has formally asked to buy US energy giant ExxonMobil s share in one of Iraq s biggest oilfields, West Qurna 1, the head of the state-run oil operating company said on Monday,
Reuters reported.
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. A decision has been made and we sent a formal letter to ExxonMobil asking to buy its share, Basra Oil Company director Khalid Hamza told Reuters in an interview, adding the oil and finance ministries will follow up with procedures to secure the finance.
Basra ports April crude exports avg 2 7 mln bpd -Iraqi News Agency | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.