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FINANCIAL NEWS
Iraq deprives Exxon from May energy tender
19 Apr 2012
(MENAFN) Iraqi government excluded US oil firm Exxon Mobil Corp.from May energy tender, over disputes due to the energy giant’s dealing with the semi-autonomous Kurdistan, AP reported.
Deputy head of the Oil Ministry’s Licensing and Petroleum Contracts Department, Sabah al-Saidi, said that Exxon defied the central government by refusing to abandon its deals with the Kurdish government.
In October 2011, Exxon signed six deals with the Kurdish government to explore oil and gas, without referring to Baghdad.
Iraq is planning to auction off 12 exploration blocks nationwide. The bidding round will be available at the end of May.
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