Sunday, June 3, 2012

Chevron Phillips Chemical Signs Letter to Study Iraq Plant

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Iraq and Chevron Phillips Chemical Co., a joint venture of Chevron Corp. (CVX) and ConocoPhillips (COP), signed a letter of intent to evaluate the feasibility of developing a petrochemical plant in the country, officials said.

The company would examine building a new facility and upgrading an existing Iraq owned petrochemicals factory in southern Basra province, Hanaa al-Husseini, a spokeswoman for the Industry and Minerals Ministry, said today in Baghdad.

Melanie Samuelson, a spokeswoman for Chevron Philips, said in an e-mailed statement that the company, with headquarters in The Woodlands, Texas, wants to assess “the feasibility of developing an integrated petrochemical complex.” Both Chevron Phillips and the ministry declined to give additional details, including cost estimates or dates for the project.

Read the entire Bloomberg article.

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1 comment:

Andy Floor said...

This thrill they are giving in withholding further information about the development of a petrochemical plant is starting to get to my nerves already. I have questions in my head that still need answering that I must have an update about this story soon. I'll be checking back time and again for it.