Exxon Mobil is in advanced stages of discussions with possible buyers to take on the West Qurna 1 oilfield, Deputy Prime Minister for Energy Hussain Shahristani said on Tuesday. He told reporters on the sidelines of the Oil and Money conference in London that Exxon would soon hand over the field to a company that had the capabilities to exploit it, but he declined to say how many companies there were or to identify their country of origin.ExxonMobil has informed the Iraqi government it wants to pull out of the $50 billion oil project in southern Iraq.Russia's second largest crude producer LUKOIL said on Friday it would study an offer from Exxon to take over the West Qurna-1 oilfield, Interfax news agency said.LUKOIL, which is already developing West Qurna-2, has previously said West Qurna-1 is "too big for it to swallow", but on Friday said it would at least look into the proposal.
Exxon Mobil Corporation (Exxon Mobil) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM traded higher by 0.42% or $0.37/share to $87.69. In the past year, the shares have traded as low as $73.90 and as high as $93.67. On average, 11944800 shares of XOM exchange hands on a given day and today's volume is recorded at 3194966.
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