Exxon says Iraq must ‘create conditions’ to attract foreign investment

Exxon Mobil is in constant dialogue with Baghdad to create the investment climate that would allow it to become a significant player in the Iraqi energy sector, its chief executive, Rex Tillerson, said Monday.

Exxon, the world’s largest publicly traded company, is among the entrants in the race for contracts to work on the biggest Iraqi oil fields.

Iraq, which sits on some of the world’s largest oil reserves, needs billions of dollars of foreign investment to overhaul its oil sector and increase output after years of sanctions and war.
IHT