Exxon Stirs Turmoil in Iraq’s Oil Industry

UPI reported that Exxon Mobil’s (NYSE:XOM) contentious oil exploration deal with Iraq’s Kurdish enclave has escalated struggle between the central government and the independence-minded Kurds.

As quoted in the market news:

The contract Exxon Mobil, the world’s largest oil company, signed Oct. 18 with the Kurdish Regional Government for six exploration zones stepped all over Baghdad’s efforts to keep that control.Kurdistan, which spans three of Iraq’s 18 provinces, contains an estimated 45 billion barrels of oil.

Click here to read the full UPI report.