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What is the benefit of Iraq establishing a petrochemical plant in Egypt?!.. An oil expert explains
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Baghdad today - Baghdad
the oil expert asked. Nabil Al-Marsoumi, in his publication, today, Friday (April 19, 2024), about the feasibility of Iraq establishing a petrochemical and refining complex in Egypt.
Al-Marsoumi, in a post on the Facebook platform followed by Baghdad Today, revealed the existence of a study on the idea of establishing a petrochemical and refinery complex in Ain Sukhna, Egypt, adding that such a complex is considered one of the strategic oil industries that Iraq lacks, and what it possesses is considered “obsolete.” very".
According to Al-Marsoumi, the presence of such complexes in Iraq leads to the formation of an important chain of forward and backward linkages that lead to the development and diversification of the Iraqi economy, providing many job opportunities, obtaining new sources of foreign currency, and reducing the impact of oil price fluctuations on the Iraqi economy.
Al-Marsoumi expressed his surprise at the thought of establishing this complex, in Egypt and not in Iraq, because this could only happen if the country possessed a sovereign fund through which it would invest some assets in the oil industries, outside the country, as is the case with the Gulf countries, but the situation is different in Iraq is in dire need of these industries at home, not abroad, and it also does not have a sovereign fund, so that it is possible to invest in assets.
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