Global Processing

Chevron Phillips studies petrochemical project in Iraq

June 4, 2012

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.