The current agreement builds on GE’s significant legacy of contributions towards strengthening Iraq’s power sector.
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ADNOC Distribution is the leading fuel distributor in the UAE. with a market share of around 67 percent in the country by number of retail fuel service stations.
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Tehran and Baghdad signed a deal on the exports of natural gas from the giant South Pars Gas Field in 2013.
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The reforms. however. must not affect daily oil production in any negative way.
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Oil markets are on track to come into balance next year.
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The two companies had agreed in June 2016 to conduct a feasibility study for the project.
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Iraq is the second-largest crude oil producer in the OPEC after Saudi Arabia.
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Iraq hired Japan’s Toyo Engineering to help build the project.
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Iran'.s oil exports have nearly doubled since January 2016.
Read More »Venezuela: PDVSA Makes Payments on $233 Million debt
PVDSA'.s bonds represent 30 percent of Venezuela'.s external debt -- estimated to be around $150 billion.
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