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No link between Exxon deal and Iran sanctions waiver

May 13/2019

MOSCOW (MRC) -- Iraqi Prime Minister Adel Abdul Mahdi said there was no link between an initial oil agreement his government was about to sign with Exxon Mobil and its receipt of waivers from the United States exempting it from sanctions on Iran, reported Reuters.

Media reports had quoted Irans ambassador in London on Monday saying the US would grant waivers to Iraq allowing it to deal with Iran economically in exchange for Baghdad signing an oil deal with Washington.

Iraq is close to signing a USD53 billion, 30-year agreement with Exxon Mobil and PetroChina to develop oil infrastructure in the south, Abdul Mahdi said, part of an energy megaproject.

Iraq currently has a waiver from the US allowing it to import gas from Iran. US President Donald Trump pulled out last year from a nuclear deal with Tehran and reinstated sanctions against it.

As MRC wrote before, in October 2017, ExxonMobil Chemical Company commenced production on the first of two new 650,000 tons-per-year high-performance polyethylene (PE) lines at its plastics plant in Mont Belvieu, Texas. The full project, part of the companys multi-billion dollar expansion project in the Baytown area and ExxonMobils broader Growing the Gulf expansion initiative, will increase the plants polyethylene capacity by approximately 1.3 million tons per year.

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
Author:Margaret Volkova
Tags:PE, crude and gaz condensate, Crude oil, Exxon Mobil, USA.
Category:General News
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