Iraqi oil minister denies exclusion of Exxon from Southern Iraq project


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Iraqi oil minister denies exclusion of Exxon from Southern Iraq project

On Saturday, the 10th of August 2019, brushing aside possibilities of an exclusion of US oil industry giant, Exxon, from its $53 billion project on oil infrastructure development in Southern Iraq, Iraqi oil ministry said that the government of Iraq had still been in talks with the US oil giant Exxon Mobil over a major deal.

Nonetheless, latest comments from the Iraqi oil ministry came forth amid a clouded backdrop when several media reports had revealed later last month that Exxon Mobil had turned its tail on $53 billion oil infrastructure development over the next 30 years after witnessing a bundle of bureaucratic complications.

Meanwhile, last week, another media report had unveiled that Iraqi oil ministry had been in an advanced stage talk to develop oil pipelines for its heavy to medium grade crudes with Italian oil giant Eni alongside British BP, while setting Exxon aside of its havoc-scale investment plan on Southern Iraq.

However, adding that the oil pipeline project with Eni and BP was not part of the project of Southern Iraq worth of $53 billion, Iraqi oil ministry had been quoted saying on Saturday (August 10th) that failure to reach a deal with ExxonMobil did not mean the negotiations had run out of steams.