From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
Will return of US oil giant herald western re-engagement with Iraq's energy sector?
ExxonMobil has signed a preliminary agreement with Baghdad to develop the supergiant Majnoon oil field.
The move signals the company's desire to return to Iraq after an almost two-year absence. Amid the fanfare, observers suggest that the accord marks renewed western interest in the Iraqi energy sector, and a potential strategic shift away from growing Chinese influence.
Yet, some critics warn that the emerging deal may prove untenable in the long term given Iraq's unstable investment dynamic. .
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