When oil giant Exxon Mobil sold half of its stake in Iraq’s giant West Qurna-1 oil field to Asian investors in August, it marked a watershed moment for the Iraqi oil industry.
As recently as four years ago, Big Oil was clamouring to get a piece of the prolific Iraqi oilfields. Geologically-compliant and near the hungry markets of Europe and Asia, Iraq was the great prize for Big Oil. With reserves of 143 billion barrels of oil – the fifth largest in the world – Iraq is often seen as the last of the low-hanging fruits in the oil world.
- Tensions Rise In Northern Iraq Oil Dispute
- The IRAQ WAR Is Not Over, End Of The Sunnis: Obama = The Shiites Promised Warrior & Iran = The Diversion To The Goal!