Skip to comments.Two major oil companies evacuating Iraq
Posted on 06/24/2014 12:12:01 PM PDT by Lorianne
Exxon Mobil officials are not commenting on reports that the company has evacuated from Iraq amid growing instability due to militants.
The company has undertaken a major evacuation of its staff, Reuters reported Wednesday, citing comments from Dhiya Jaffar, head of Iraqs state-run South Oil Co.
A spokesman from Exxon Mobil told FuelFix that the company does not comment on security issues.
Iraq instability: Insurgents capture largest Iraq oil refinery
Jaffar also said BP had evacuated about 20 percent of its staff in Iraq. Officials from BP did not respond immediately to questions from FuelFix about the reported evacuation.
We are just very vigilant in Iraq, BP chief executive Bob Dudley told reporters Tuesday, Reuters reports. Non-essential production people have left but operations continue.
Jaffar criticized the companies, which operate in the southern part of Iraq, for reportedly leaving.
I assure the companies that the current developments in the country have not affected and will not affect in anyway the operations in the south, he reportedly said.
Analysts: Crude-export shutdown in Iraq unlikely
In 2010, an ExxonMobil affiliate signed a deal with South Oil to redevelop the West Qurna I field in the southern part of the country. The project includes drilling new wells, working on existing wells, and optimizing existing facilities, according to its SEC filings. The company is also pursuing exploration and production in the Kurdistan region of Iraq, in the northern part of the country.
BP, meanwhile, signed a service contract with South Oil in 2009 for work in the Rumaila field in Southern Iraq.
Oil majors including BP, ExxonMobil, Petronas, and Shell have already begun evacuating staff from Iraq, which has the worlds fifth largest proven oil reserves.
1420: Oil majors BP (LSE: BP.L - news) and ExxonMobil have continued to evacuate staff from Iraq. BP evacuated 20% of its staff, while ExxonMobil has has carried out a major evacuation of staff from Iraq, according to Reuters. The head of Iraq’s state-run South Oil, Dhiya Jaffar, said other companies ENI (NYSE: E - news) , Schlumberger (Vienna: SLBS.VI - news) , Weatherford, and Baker Hughes (Munich: BHU.MU - news) had no plans to evacuate staff from the country following the major incursions advance of Sunni militants through the country. “This message is not satisfactory for us,” said Jaffar. “They should be here on the ground.”
Heckuva job, Barry.
This is the "Necessarily Skyrocket" strategy in motion.
Hey 2012 voters, how's it working out for ya?
Yep! I get tired of "Obama is soooo incompetent". He told us point blank he was going to crush the hydrocarbon industries.
Wise move—get out of Dodge! The Comanches are coming. Take my word on this—you don’t want to be caught alive with these ISIS folks—especially if your a woman.
Only surprising thing is that it took so long.
The oil won’t do them any good if they don’t sell it... so, it’ll wind up on the market one way or the other....
Does anyone believe the ISIS has the wit or brains to run a modern oil operation?
Well, now BO can stand up and say he is tired of hearing ‘US’ complaining that the price of Gasoline at the pump has almost doubled since he took office.
OF COURSE, he will then add that “Now you can complain that it has TRIPLED since he took office”.
Be careful what you ‘wish for’ peasants.
AGAIN, I want to thank all the R’s and GOPe that assisted in the reelection of this clown and sticking McAwful on us in VA.
I figure that if the ‘establishment’ is having the FBI investigate the D (State) Senator that resigned, now that the Legislation in VA has stuck BO Care back up McAwful’s hind parts we ALL are in for some sort of IRS probe or FBI purge.
Eventually one would think the ‘agencies’ would be appalled at attacking CITIZENS merely for their political belief OR, more exactly, NON belief.