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
19:28
Sorin Grindeanu announces PSD joining the government / List of the 11 Social Democratic ministers to be sent to Victoria Palace
19:20
Character.AI files for bankruptcy and accepts Disney’s $20 million offer
19:16
Mark Rutte warns: NATO will defend itself if Russia is “stupid enough” to attack allied territories
19:04
Albanian students protest in Tirana / A fire breaks out at the Education Ministry as police intervene with tear gas and water cannons
18:57
Netflix will lay off nearly 1,000 employees / Executives announced the job cuts
See more news
NEWS ON THE SAME TOPICS
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.
