Oct 18, 2012 | 1603 GMT
ExxonMobil is looking to end its contract to develop Iraq's West Qurna-1 oil field, reportedly due to concerns over the project's profitability, U.S. diplomatic sources said Oct. 18, Reuters reported. Baghdad has asked companies that signed contracts with the Kurdistan Regional Government, including ExxonMobil, to cancel the contracts (which Baghdad considers illegal) or pull out of Iraq entirely.