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Iraq Still Considering Exxon Bidding Ban

Source: Reuters 3/22/2012, Location: Middle East

Iraq is still considering whether to lift a ban on Exxon Mobil bidding on new oil contracts imposed because of its dealings with the Kurdish autonomous region, Oil Minister Abdul Kareem Luaibi said.

"We will discuss this issue in the ministry and the decision concerning it will be taken, God willing," Luaibi told reporters. The central government considers deals with the Kurdish region to be illegal and has been angry at Exxon since the oil major announced a Kurdish exploration deal last year.

Luaibi repeated earlier remarks that Exxon had written to Baghdad to say it was suspending its work in the Kurdish region. Kurdish officials deny that Exxon has frozen its work there. The company has not commented publicly on whether it has suspended work in the Kurdish zone.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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