Halliburton considers a stake in Iraq oil field from Exxon 

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Updated 13 December 2021
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Halliburton considers a stake in Iraq oil field from Exxon 

RIYADH: US-based oil field service company Halliburton is in talks with Exxon Mobil about the sale of a stake in the huge West Qurna-1 oil field in southern Iraq. 

Iraq will step in to buy the stake, if the talks with Halliburton fail, but it wants a US partner for Exxon’s stake, Bloomberg reported, citing the country’s Oil Minister Ihsan Abdul Jabbar. 

“Basra Oil wants to acquire Exxon’s stake, but to maintain the balance of partners and market, we support a US partner,” Abdul Jabbar said.

Earlier, Halliburton stated that reports the company is interested in buying Exxon’s stake are inaccurate. 

Halliburton emerged as a potential buyer of the 32.7 percent stake in West Qurna-1 some months ago.

Energy giant Exxon has been recently dissatisfied with West Qurna due strict contractual terms, OPEC supply constraints, and the current political instability. 

Abdul Jabbar said that COVID’s new strain hasn’t much impacted global oil demand. He is expecting OPEC+ to increase production by 400,000 barrels next month.

He expects to sign a deal with Chevron Corporation in the first quarter of 2022 on a potential investment in the southern city of Nasiriya.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.