Iraq says Exxon won't Move on Kurdish Oil Blocs

Exxon Mobil has told Baghdad it will not break ground on its oil blocs in Iraqi Kurdistan until the central government in Baghdad approves the contracts, Deputy Prime Minister for Energy, Hussain al-Shahristani, said said on Wednesday.

Shahristani has indicated many times that such approval was unlikely to be granted. Baghdad has threatened to exclude Exxon from its upcoming fourth energy licensing round, and the minister said a decision had yet to be made on whether it could take part.

The U.S. major, which is also leading the development of the supergiant West Qurna-1 oilfield in southern Iraq, has sent two letters to the oil ministry confirming its decision to freeze its Kurdish deals.

(Source: Reuters)

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