Defend Truth

Exxon Mobil strikes oil deal with Iraq

On Thursday, Exxon Mobil achieved what no US oil company has managed to do in 40 years: win a contract from Iraqi government. It was announced that Exxon will develop West Qurna 1, Iraq’s second largest field, a move that will boost its production more than eight-fold to 2.325 million barrels a day. Exxon and Shell (a 20% owner in the venture) will invest $25 billion on development and a further $25 billion on operations. Last month, the Iraqi government awarded the development rights for the Rumaila oilfield, the country’s biggest, to BP and China National Petroleum Corp. Both Rumaila and West Qurna are in Southern Iraq. Read more: BBC news

Gallery

Please peer review 3 community comments before your comment can be posted

A South African Hero: You

There’s a 99.8% chance that this isn’t for you. Only 0.2% of our readers have responded to this call for action.

Those 0.2% of our readers are our hidden heroes, who are fuelling our work and impacting the lives of every South African in doing so. They’re the people who contribute to keep Daily Maverick free for all, including you.

The equation is quite simple: the more members we have, the more reporting and investigations we can do, and the greater the impact on the country.

Be part of that 0.2%. Be a Maverick. Be a Maverick Insider.

Support Daily Maverick→
Payment options