China oil major could join Exxon in Iraq

China’s largest oil producer is willing to join Exxon Mobil (XOM.NYSE, XONA.FRA) on a troubled oil field in northern Iraq, Reuters reported. Exxon has looked to sell off its 60% stake in the West Qurna-1 field after extended contract disagreements with Baghdad. While PetroChina (0857.HKG, 601857.SHA), the listed arm of China National Petroleum Corporation, has been the frontrunner in the potential buyout, Exxon may sell only part of that stake. PetroChina Chairman Jiang Jiemin said the firm was willing to develop the field with Exxon.