The Iraqi government is attempting to take over ExxonMobil’s operating stake in the West Qurna 1 oil field rather than approve a sale to international investors. In a Jan. 5 statement, the Oil Ministry said the Iraqi Cabinet had “approved the Iraqi National Oil Company’s acquisition of ExxonMobil’s share in West Qurna 1.” The field is currently producing over 460,000 barrels per day (bpd), which is more than one-tenth of the country’s overall output.
