Share :

Download PDF :

Journal of Petroleum Technology (27 April 2021)

by Pat Davis Szymczak

Iraq may turn to China to meet its deadline of finalizing the sale of ExxonMobil’s 32.7% stake in the West Qurna-1 oil field by the end of June, after Chevron declined to buy out its rival’s position.

Earlier this month, Iraq’s oil ministry had signaled it preferred a US company to replace ExxonMobil as operator of the field near Basra. But when Chevron declined the offer, state-run Basra Oil Co. (BOC) widened its net to consider buyers from outside of the US, BOC Director General Khalid Hamza told Reuters in an interview.

“We have no objection either on PetroChina nor CNOOC, they are our partners already,” Hamza told Reuters, adding that also “BOC may buy Exxon’s share, or any of the oil ministry’s companies may buy.”

Click for more