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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Oil Minister: The Nibras project needs a central decision and will see the light in the coming week

    Rocky
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    • Post n°1

    Oil Minister: The Nibras project needs a central decision and will see the light in the coming week Empty Oil Minister: The Nibras project needs a central decision and will see the light in the coming week

    Post by Rocky Sun 14 Mar 2021, 7:20 am

     Oil Minister: The Nibras project needs a central decision and will see the light in the coming weeks

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    On Sunday, Oil Minister Ihsan Abdul-Jabbar confirmed that the Nebras project needs a central decision, indicating that it will see the light in the coming weeks.
    Abdul-Jabbar said in a press interview, that "Basra Petrochemicals is an old project," noting that "this project, which is called the Nebras project, is currently discussing the technologies in it with Shell for more than 5 years."
    The Minister of Oil added; The last "what has been agreed upon is that the central committee concerned with this project will present its final narration to the Ministerial Council for Energy in the coming weeks, and determine the main node in the economics of the project, which is the price of the raw material entering the project and how it is calculated with the current data which is the importance of Iraq selling this raw material." Dakhla at a price different from the price of this substance in the current market, and this node made the Ministry of Industry not decide for a period of five years.
    The Minister of Oil indicated that "the issue will be presented to the Cabinet and the Minister of Finance to find appropriate solutions in the coming weeks," expecting that "the survival of this node will not see the light of the project except by a central decision."
    He stressed that "the decision will be either towards building the Nibras project or asking our partners, which is Shell, to change the price of this material."
    The Ministry of Industry and Minerals signed a preliminary agreement with the international "Shell" investment company in 2012, to develop an anticipated global petrochemical complex in Basra Governorate, which will bear the name "Nebras".
    A long debate took place in the Basra local government regarding the "Nebras" petrochemical project, as the Oil and Gas Committee in the Provincial Council at that time called the Ministry of Oil to adopt this project instead of the Ministry of Industry, while the Industry Committee in the Council believes that the elements of success depend on a policy Financing, and the investor is the one who sponsors the financing of the project, as Shell is the largest shareholder in it.
    The "Al-Nebras" city for petrochemical industries in Basra, proposed by the Royal Dutch Shell for implementation near the ports of Umm Qasr, is the fourth largest petrochemical plant in the world and the largest in the Middle East. The cost of construction is estimated at 11 billion dollars, while the expected annual profits are more than one billion dollars, and the expected profits during the period of work of the project are estimated at 70-110 billion dollars, and the implementation period is 5 years. It will provide employment opportunities between 10,000 to 30,000 jobs during the implementation period and 50,000 people from other manufacturing industries. As for the annual production amount, it is one million 800 thousand tons.
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