- Royal Dutch Shell (RDS.A, RDS.B) is nearing a deal with the Iraqi government to build an $11B petrochemical facility in southern Iraq, WSJ reports, citing the Iraqi government.
- The intention to move forward reportedly follows a meeting between Iraq's prime minister and Shell CEO Peter Voser in Baghdad yesterday; the government says it is about to sign a "heads of agreement" committing both sides to early planning for the project.
- Shell already has a big presence in Iraq, where it is developing the huge Majnoon oil field, which produced its first oil last month and is now pumping ~200K bbl/day.
Shell nears deal to build $11B petrochemical facility in Iraq
Nov 13 2013, 07:51 ET