The American Empire in a Changing World


Tuesday, November 20, 2012

''Iraq would favor CNPC, Lukoil bids for Exxon oil stake'

From Aswat al-Iraq

''Iraq would favor bids by Russia's Lukoil and China’s CNPC if they decided to buy Exxon Mobil's stake in the super-giant West Qurna-1 oilfield, a senior oil ministry official said on Friday.
A sale of the stake to either company would significantly strengthen the position of Russian or China in exploiting Iraq's oil reserves, the world's fourth biggest.
"During two separate meetings with executives from CNPC and Lukoil, Iraq informed the companies that it favours their contribution to purchase Exxon's share in West Qurna-1 oilfield," the official told Reuters.
Baghdad said it had received "positive signals" from both companies that they will consider making an offer for the $50 billion project, which Exxon wants to pull out of to focus on its deal for exploration blocks in Iraq's autonomous Kurdish region.''

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