Iraq wants another U.S. company to replace Exxon as a shareholder in the West Qurna 1 field, one of the country’s largest after the supermajor leaves the country. “Exxon Mobil is considering exiting Iraq for reasons that are to do with its internal management practices, decisions, and not because of the particular situation in Iraq,” Prime Minister Mustafa al-Kadhimi told media after a meeting with President Joe Biden, as quoted by Reuters. Exxon, which holds a $32.7-percent interest in West Qurna 1, has been looking for a buyer with plans to exit the country entirely. The stake was valued last year at up to $500 million. At the time, reports said two Chinese companies were interested in acquiring it, state-owned CNPC and CNOOC. The plans for the stake sale appear to have been prompted by the impact the pandemic had on Exxon’s finances as it sought to keep its […]