Commodities & Energy

Reuters reveals Exxon losing out to BP, Eni in Iraq pipeline project

Reuters reveals Exxon losing out to BP, Eni in Iraq pipeline project

Reuters exclusively reported that Iraq is close to reaching a deal with oil majors BP and Eni for an export pipeline project that was initially planned as part of a $53 billion mega-deal with ExxonMobil, undermining the U.S. energy giant’s ambitions to expand in the country. Prior, Reuters revealed that the deal was getting bogged down by a combination of contractual wrangling and security concerns.