Reported about 13 hours ago
Iraq has signed a non-binding agreement with Exxon Mobil to develop the Majnoon oilfield and enhance oil exports, marking the company's return to Iraq after two years. This deal comes amid efforts to modernize Iraq's energy sector and boost production, with the country aiming to increase output from 4 million to over 6 million barrels per day by 2029. The agreement includes profit-sharing on crude oil and plans to improve export infrastructure, reflecting Iraq's goal to strengthen ties with Western markets.
Source: YAHOO