Iraq: Exxon’s Departure Shifts Power to Kurds

With Exxon Mobil (NYSE: XOM) signaling that it's planning to sell its stake in a huge oil field in southern Iraq in favor of new drilling projects to access large untapped reserves in northern Iraq’s semi-autonomous Kurdish region, power is shifting dramatically away from Iraq’s government. The winners are Exxon and the Iraqi Kurds, with one poised to reap large profits and the other more political power, as LIGNET explains.

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