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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

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    Is Shell's withdrawal related to logistical or security problems?

    Rocky
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    • Post n°1

    Is Shell's withdrawal related to logistical or security problems? Empty Is Shell's withdrawal related to logistical or security problems?

    Post by Rocky Wed 14 Feb 2024, 4:24 am

    Is Shell's withdrawal related to logistical or security problems?
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    Baghdad today - Baghdad 
    Today, Wednesday (February 14, 2024), economic expert Nabil Al-Marsoumi explained the extent to which Shell’s withdrawal from the “Nebras” project was linked to logistical or security problems. 
    Al-Marsoumi said in a blog post followed by "Baghdad Today", "The history of the project dates back to June 2015 when Shell signed the original deal to build and implement the Nebras Petrochemical Industries Complex project in Basra, the cost of its construction at the time was estimated at 11 billion." 
    Entering the production stage 
    He added, "It was hoped that the project would enter the production stage within five to six years, and that it would make Iraq the largest producer of petrochemical industries in the Middle East, with a production capacity of at least 1.8 million metric tons annually of various petrochemical products."
    He pointed out that "the ethane associated with the associated gas is the main feeder for the new Iraq complex for petrochemical products in Nebras, as it is used in the Saudi city of Jubail for petrochemical products."
    Shell's problems 
    Al-Marsoumi explained that “Iraq possesses high rates of associated gas and that its manufacture will be one of the components of Iraq’s progress in producing these oil derivatives,” noting that “Shell faced two major problems in moving forward with the implementation of the project: the first was logistical, represented by the company’s withdrawal. Shell from its work in the Majnoon and West Qurna 1 oil fields. The second is a moral problem related to the extent of the possibility of applying the commission rate in Iraqi oil contracts, as the cost specified in the contract is 11 billion dollars, but the amount of the additional commission according to Shell’s calculation is between 3 and 4 billion. Another dollar. 
    He pointed out that "the turbulent security situation in Iraq has added another reason for Shell's withdrawal from the project."
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