Exxon Mobil Deliberates on West Qurna Exit and 1 Dow Mover Attracting Investor Attention
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Exxon Mobil Corporation (NYSE:XOM) mulls leaving southern Iraq’s giant oil field, West Qurna-1, as it intends to divest its 60 interest in the West Qurna-1 project, primarily because of the expected narrow profits from the planned $50 billion venture. The West Qurna oil field contains estimated reserves of 8.7 billion barrels and lies in the south of Iraq near Basra. Overall, Iraq delivers at output of just over 3 million barrels per day, of which West Qurna-1 currently provides approximately 400,000.
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