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CNPC, Lukoil to consider buying Exxon's West Qurna stake
- Iraq: Monday, November 19 - 2012 at 03:53
Iraq's oil ministry has said it would favour bids by Russia's Lukoil and China's CNPC if they decided to buy Exxon Mobil's stake in the super-giant West Qurna-1 oilfield, Reuters has reported. "During two separate meetings with executives from CNPC and Lukoil, Iraq informed the companies that it favours their contribution to purchase Exxon's share in West Qurna-1 oilfield," a ministry official was quoted as saying by the news service. Baghdad said it had received "positive signals" from both companies that they will consider making an offer for the $50bn project, which Exxon wants to pull out of to focus on its deal for exploration blocks in Iraq's autonomous Kurdish region.
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