Exxon in Talks with Iraq over Oil Agreements

Source: Reuters 3/4/2015, Location: Middle East

Exxon Mobil Corp is in discussions with the government of Iraq to restructure oil agreements in a way that would help that country meet its near-term cash needs, Chief Executive Officer Rex Tillerson told a news conference.

"By and large we are current in our payments," Tillerson said, adding that Iraq had asked the Irving, Texas oil company for the talks.

Any change would have to be beneficial to Exxon, which is the lead contractor to rehabilitate the giant West Qurna oilfield, Tillerson said.


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