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EXXON MOBIL CORPORATION

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Exxon Mobil : Iraq to raise West Qurna 1 oilfield output to 490,000 bpd in next few days - official

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05/22/2019 | 06:38am EDT

BASRA, Iraq (Reuters) - Iraq will increase production at its giant West Qurna 1 oilfield to 490,000 barrels per day (bpd) in the “next few days”, a senior Iraqi oil official said on Wednesday.

West Qurna 1 oilfield, developed by Exxon Mobil, currently produces about 440,000 bpd, Basra Oil Company chief Ihsan Abdul Jabbar told Reuters.

Exxon Mobil evacuated all of its foreign staff, around 60 people, from West Qurna 1 on Saturday, just days after the United States withdrew non-essential staff from its embassy in Baghdad, citing a threat from neighbouring Iran, which has close ties to Iraqi Shi'ite militia.

(Reporting by Aref Mohammed; Writing by Ahmed Rasheed; Editing by Jon Boyle)

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Financials ($)
Sales 2019 284 B
EBIT 2019 26 565 M
Net income 2019 17 379 M
Debt 2019 36 538 M
Yield 2019 4,42%
P/E ratio 2019 19,09
P/E ratio 2020 13,06
EV / Sales 2019 1,27x
EV / Sales 2020 1,21x
Capitalization 326 B
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Mean consensus HOLD
Number of Analysts 22
Average target price 85,2 $
Spread / Average Target 11%
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Managers
NameTitle
Darren W. Woods Chairman, President & Chief Executive Officer
Andrew P. Swiger Chief Financial Officer & Senior VP
Samuel J. Palmisano Independent Director
Steven S. Reinemund Independent Director
Kenneth C. Frazier Independent Director
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