Economist: American Exxon Mobil sells its stake and leaves Iraq!
Economist: American Exxon Mobil sells its stake and leaves Iraq!
11-13-2023
Economist Nabil Al-Marsoumi said on Monday that the American company ExxonMobil sold its 22.7% stake in the West Qurna 1 field to the Basra Oil Company.
Al-Marsoumi stated in a publication followed by “ Jarida ” that “ExxonMobil sold to Basra Oil Company its 22.7% share in the West Qurna/1 field, whose proven reserves amount to 20 billion barrels, and produces about 500 thousand barrels per day, or the equivalent of 9%.” of oil production in Iraq, and Iraq will pay $350 million to the American company.”
He explained, “However, there is a dispute between the two parties regarding the amount of taxes paid by ExxonMobil, as Iraq demands that the American company pay $120 million, while ExxonMobil agreed to pay only $12 million, and it is not yet known whether this agreement has resolved the issue.” Taxes, or will it be referred to international arbitration.”
jaredaiq.net
