Iraq may Buy Exxon stake in West Qurna 1

(MENAFN - Iraq Business News) By John Lee. Press reports quote Iraq's oil minister as saying that Iraq could buy ExxonMobil 's 32.7-percent stake in the West Qurna 1 oil field . Ihssan Abdul-Jabbar Ismail told a news conference on Monday that the government might purchase the stake via the state-owned Basra Oil Company (BOC) . BOC previously took over the Majnoon field from Shell and Petronas at the end of June 2018. It had previously been rumoured (see here and here ) that China would take over Exxon's holding in West Qurna 1. Earlier this year, ExxonMobil sold its share in the Baeshiqa license in the Kurdistan region of Iraq to DNO . (Sources: Reuters, Bloomberg)MENAFN04052021000217011061ID1102027696