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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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    The Minister of Oil reveals the reasons for Shell’s withdrawal from Nebras: It will be divided into

    Rocky
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    The Minister of Oil reveals the reasons for Shell’s withdrawal from Nebras: It will be divided into Empty The Minister of Oil reveals the reasons for Shell’s withdrawal from Nebras: It will be divided into

    Post by Rocky Mon 18 Mar 2024, 4:51 am

    The Minister of Oil reveals the reasons for Shell’s withdrawal from Nebras: It will be divided into three parts
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    Baghdad today - Basra 
    Today, Monday (March 18, 2024), Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani Al-Sawad revealed the real reasons for Shell’s withdrawal from the Nebras Petrochemical Project, while indicating that the project was divided into three sections. 
    Al-Sawad told "Baghdad Today", "The company withdrew without encountering any problems," noting that he "spoke with the company's general manager at the (Davos) conference about the real reason."
    He pointed out that "Shell's management has indicated that it is now moving towards investing in gas rather than going into petrochemical plants." 
    He pointed out that "Shell's withdrawal did not involve any exceptional circumstances, but rather the company changed its policy in the region and in the world," indicating that it "turned towards gas as a transitional fuel at this stage and that its withdrawal was not because of the Iraqi state." 
    He pointed out that "the Nebras project was very large and will be divided into three sections to proceed with its referral and implementation during the coming period." 
    On (February 15, 2024), the Minister of Industry and Minerals, Khaled Battal Al-Najm, announced Shell’s apology for continuing to work on the petrochemical project, indicating that the withdrawal was due to “the company’s new investment policy.” 
    He added, "The International Oil Company has now shifted from investing in petrochemicals to investing in gas," explaining that "the Nebras Chemicals Project was launched in 2015, that is, 9 years ago." 
    Khaled Al-Najm explained that Shell is one of the partners in the Basra Gas Company with a 45 % stake , Mitsubishi 5 % ,  and South Gas 50 % , and expressed its willingness to support the petrochemical project .
    He explained that the Nebras Chemicals Project has come a long way, as resuming work on it will not be from scratch, and there are existing advisory studies specialized in this regard .
    He stressed that "the project site is now prepared, as it has reached advanced stages in removing mines and war remnants, and the waterfront is ready." 
    The Iraqi Prime Minister directed the Ministries of Industry and Oil to study other options that are more responsive to the new gas reality after signing the investment contract with the French company Total, and to re-examine the size of the project, its design capacity, and other technical details .
    The Nebras project includes a refinery with a capacity of 300,000 barrels, next to a huge petrochemical plant, as it depends on exploiting natural gas surpluses to manufacture various petrochemical products .
    The "Nebras" chemical project was scheduled to be implemented in Basra Governorate, and aims to provide more than 40,000 job opportunities, with an investment value of $11 billion, with a production capacity of 2.8 million tons per year of polyethylene.
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