Iraq Disallows Exxon From May Auctions

ExxonMobil has been officially barred from participating in Iraq’s fourth oil- and gas-licensing auction because of deals it struck with the Kurdistan region. The auction is scheduled to be held next month.

Iraqi government has said that the company has to choose between its deals with Kuristan and the Iraqi government.

However, Exxon has said that it froze its deal with KRG but Iraq wants the deal to be completely scrapped.

Iraq has asked the Texas-based company to choose between its deals with the Kurdistan Regional Government in northern Iraq and its central-government contract to develop the giant West Qurna-1 oil field n the south. Exxon last month told the Baghdad government it froze its deals with the KRG, but the government wants the deals completely cancelled.

Kurds and Iraqis have been at dispute over who has the final say on in development of regions energy resources.