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
12:50
Metin Hakverdi warns that Republicans losing control of Congress would significantly alter the political balance in the United States
12:49
Hungary will give up Russian gas by autumn 2027 and is seeking alternative sources of supply
12:39
The Ministry of Education is funding more than 650 schools to prevent functional illiteracy and school dropout
12:34
Kim Jong Un announces an “unprecedented” warship being built in North Korea
12:33
Preşedintele Consiliului Judeţean Cluj, Alin Tişe: „PNL se îndreaptă într-o direcţie greşită. Îmi asum candidatura la funcţia de preşedinte al Partidului Naţional Liberal, la viitorul Congres”
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.
.webp)
