Complex Made Simple

Chevron Phillips Chemical inks deal to examine Iraq plant

Iraq has signed a letter of intent with a joint venture between Chevron Corp and ConocoPhillips to evaluate the feasibility of developing a petrochemical plant in the country, Bloomberg has reported. Chevron Phillips Chemical Co is to examine building a new facility and upgrading an existing Iraq-owned petrochemicals factory in southern Basra province, said Hanaa al-Husseini, a spokeswoman for the industry and minerals ministry. Al-Husseini said on April 9 that Shell Chemicals agreed in a separate arrangement to study the feasibility of a petrochemical plant.