Economics US oil giant Exxon Mobil wants to leave its giant oilfield project in southern Iraq, diplomatic sources said, in a move likely to aggravate the country's internal tensions and hamper Baghdad's ambitious energy expansion plans. Exxon's desire to quit, which the sources said was due to prospects of slim profits from the estimated $50 billion West Qurna-1 project, contrasts with a deal it signed a year ago to explore in Iraq's autonomous northern Kurdish region, where incentives are better. Baghdad deemed the Kurdish deal illegal and promised to punish Exxon by ripping up its contract for West Qurna-1, which has reserves of 8.7 billion barrels. More from The Daily Star A young and increasingly educated population could be the source of prosperity in the Middle East and North Africa if an environment that promotes open competition is created, according to a World Bank report. The study on
