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SABIC in talks to join Iraq petrochemical project

Saudi Basic Industries Corp., or SABIC, is in talks to become a partner in the Nebras petrochemical project in Iraq, Reuters reported citing Kadhim Mohammed Jawad Hassan, an advisor to Iraqi Prime Minister Haider al-Abadi.

Talks between Saudi Arabia and Iraq have advanced to the ministerial level, Abadi told Reuters on the sidelines of the CWC Group's Iraq Petroleum Conference in Berlin. SABIC would join the project, which is still in its front-end engineering design stage, as the fourth partner with Royal Dutch Shell plc and the Iraqi oil and agriculture ministries.