The
US
supermajor
is
giving
up
its
stake
in
the
giant
southern
oilfield
after
clashing
with
the
central
government
in
Baghdad
over
exploration
contracts
it
had
signed
with
the
autonomous
Kurdistan
region
in
the
north.
Iraqi
and
Chinese
sources
told
Reuters
that
CNPC
unit
Petrochina
is
negotiating
for
ExxonMobil's
60%
stake
in
the
$50
billion
West
Qurna-1
project
and
that
there
are
rival
bidders.
Royal
Dutch
Shell
is
a
minority
partner.
"CNPC
has
shown
interest;
they
are
there.
And
from
our
side,
there
is
no
problem
with
them
taking
on
a
bigger
position.…
