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With its vast oil and gas resources, there is no fundamental reason why Iraq cannot become a world-class producer of high-value petrochemicals. In the process, it would benefit enormously from huge revenues from these value-added products and from putting a large part of the gas it currently flares to good use. There have been plans to do just this in place for several years, most particularly in the shape of the Nebras Petrochemical Project (NPP). According to comments from the Iraq Oil Ministry, talks took place last week to ratify “a final…