Exxon Deal Clearly Positive For Kurdish Oil - Gulf Keystone
17 November 2011 - 9:32PM
Dow Jones News
Exxon Mobil Corp.'s (XOM) controversial deal to explore for oil
in Iraq's Kurdish region will undoubtedly change the politics of
the industry in a positive way, John Gerstenlauer, chief operating
officer for Gulf Keystone Petroleum Ltd. (GKP.LN), said
Thursday.
"There is no way that a player the size of Exxon can do what
they have done and not change the dynamics," Gerstenlauer said at
the Oil Council conference in London. "At the end of the day, it
has to be positive for Kurdistan."
Exxon Mobil last week became the first of the major
international oil companies to enter Iraqi Kurdistan. The move has
prompted threats from the Baghdad government that the U.S. company
could lose its licenses in southern Iraq if proceeds with the
deal.
-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317;
james.herron@dowjones.com
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