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Saturday, July 26, 2014  

Exxon plans to sell stake in Iraqi oilfield
BAGHDAD ExxonMobil has informed Baghdad it wants to sell its stake in a south Iraq oilfield, an official said on Wednesday, indicating the US giant will focus on a controversial deal with Iraq’s Kurdish region.

The move comes after a year-long stand-off between the American energy firm and Iraq’s central government, which has opposed contracts such as the one signed by Exxon with the autonomous northern Kurdistan region because it was not explicitly approved by Baghdad.

In another development, Iraq expelled Turkish national energy firm TPAO from a consortium that won an exploration contract in south Iraq, in the latest sign of worsening ties between Baghdad and Ankara.

The two neighbours have been at odds over their responses to the Syrian conflict and Iraq has publicly urged Turkey to hand over fugitive vice-president Tareq Al Hashemi, who has been sentenced to death on charges of running a death squad.

Agencies
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