Iraq set to buy ExxonMobil $350 million share of Basra oilfield ...Kuwait

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Iraq set to buy ExxonMobil $350 million share of Basra oilfield
Iraq has announced that it has made a formal offer for ExxonMobil's share of the West Qurna 1 oilfield in southern Iraq. Oil giant ExxonMobil has received an offer for its share of the West Qurna 1 oilfield in Basra, by Iraq, according to reports by Reuters.  The head of the state-run oil operating company said on Monday that a formal offer, priced at $350 million, to buy the share had been made by Iraq. "A decision has been made and we sent a formal letter to ExxonMobil asking to buy its share," said Khalid Hamza, director of the Basra Oil Company, in an interview with Reuters.   ExxonMobil currently owns a 32.7 percent share in the West Qurna 1 oilfield, but indicated last month that i

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