The Iraqi government has signed an agreement with ExxonMobil for the development of the Majnoon oil field, marking the return of the American company to Iraq after two years.
Raluca Ioana Draghici
International
www.shutterstock.com
Always see our news on Google
The agreement with ExxonMobil, currently non-binding, is part of a broader strategy by Iraq to attract international partnerships to accelerate oil and gas production. Iraq, with huge reserves, currently produces about 4 million barrels per day, but aims to reach 6 million by 2029. The agreement provides for profit sharing and modernization of export infrastructure. ExxonMobil, which had a previous presence in Iraq, joins other giants like Chevron and BP in this endeavor.
Sources
Latest News
07:49
French authorities diverted four planes after bomb threats
07:31
Activists from Geef Tegengas occupied a Microsoft construction site in Amsterdam to protest the expansion of data centers
07:16
Two rockets reportedly hit Iran’s Qeshm Island
22:49
Radu Miruță announces that USR and PNL are discussing an alliance for the 2028 local and parliamentary elections
22:25
Ilie Bolojan calls for the PNL to be rebuilt through truth, accountability and strong teams
See more news
NEWS ON THE SAME TOPICS
Economy
Chevron and ExxonMobil hit record highs after doubling their profits amid the global fuel crisis
International
The Pentagon enters Venezuela’s oil business: 35% of a company with access to 65 billion barrels
International
The USA and Venezuela discuss a possible American participation in several oil fields (press)
Personalized news feed, AI-powered search, and notifications in a more interactive experience.
