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BAGHDAD — Chevron Phillips Chemical Co. signed a letter of intent to evaluate the feasibility of developing a petrochemical plant in Iraq, Bloomberg reported.
The company, a joint venture of Chevron Corp. and ConocoPhillips, would examine building a new facility and upgrading an existing Iraq-owned petrochemicals factory in southern Basra province.
Both Chevron Phillips and Iraq’s Industry and Minerals Ministry declined to give additional details.