China Looks To Buy Stake In A Major Iraqi Oilfield ...Middle East

State giants China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are interested in buying ExxonMobil’s entire operating stake in one of the largest oilfields in Iraq, West Qurna 1, Bloomberg reported on Friday, citing sources with knowledge of the matter.   The potential stake sale of Exxon’s 32.7-percent interest in West Qurna 1 could be worth at least US$500 million, but final decisions haven’t been made yet, and a possible deal could be hampered by geopolitical uncertainties…

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