Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Natural Gas | Petrochemicals

Iraq to speed up plans for $8-bil Nebras petchem project with Shell: oil ministry

Oil | LPG | Gasoline | Naphtha | Petrochemicals

Asia LPG, naphtha to drive light ends strength in 2021, gasoline outlook mixed

Petrochemicals | Olefins | Polymers

Platts Global Polyolefins Outlook

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Natural Gas | Oil | LPG | Shipping

Persian Gulf-Japan VLGC freight rate surges to 9-month high on robust demand

Electric Power | Renewables | Natural Gas (North American) | Crude Oil | Steel | Petrochemicals

Commodity Tracker: 5 charts to watch this week

Iraq to speed up plans for $8-bil Nebras petchem project with Shell: oil ministry

Highlights

Iraq first signed MOU for Nebras in 2012

Project to produce 1.8 mil mt/year PE

Shell has 49% stake in project

Dubai — Iraq aims to speed up plans for an $8-billion petrochemical project with Shell, oil minister Ihsan Ismaael said Aug. 31, as OPEC's second largest oil producer seeks to implement a development first announced in 2012.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The oil and industry ministries, each of which has a 25% stake in the project, have held meetings to accelerate the implementation of the Nebras project with Shell, which has a 49% interest, Ismaael said in a statement.

He added that the legal and contractual terms should be finalized by year-end.

The project in the southern city of Basra will produce 1.8 million mt a year of polyethylene and will be supplied with sufficient ethane feedstock, the minister said.

Iraq signed a memorandum of understanding with Shell in 2012 to develop Nebras.

Shell's current main asset in Iraq is a 44% stake in the Basra Gas Co, which captures associated gas from the southern Iraqi oil fields to produce electricity. The government-owned South Gas Co. has a 51% stake and Mitsubishi Corp 5%.