LONDON — Reliance Industries, India's top exploration firm, intends to expand its
presence in the Iraqi crude oil market. Reliance plans to compete for
several major energy projects, including the upgrading of oil refineries.
The Indian company, which operates the world's third-largest oil
refinery, has signed contracts to develop energy resources in the autonomous
Kurdish region of northern Iraq.
The contracts were said to have angered the
Iraqi Oil Ministry in Baghdad, which sought to approve any such deals, Middle East Newsline reported.
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Still, executives said, Reliance plans to bid for a range of unspecified
projects. Reliance president P.M.S. Prasad said his company hoped to
participate in oil tenders by Baghdad.