Tag Archives | Petrochemicals

6 New Investment Opportunities in Iraq

By John Lee. The National Investment Commission (NIC) has announced six new investment opportunities in Iraq: New Housing Compounds, Ministry of Water Resources Lime plant in Karbala, Iraqi Cement State Company Caustic/chlorine plant in Khor al-Zubair, State Company for Petrochemical Industries Industrial and medical gases, Al-Zawraa State Company Chlorine plant in Muthanna, General Company for […]

Saudi’s SABIC “in talks” to join Nebras Petchem Project

By John Lee. Saudi Basic Industries Corp (SABIC) is in talks to join Iraq’s Nebras petrochemical project, according to a report from Reuters. An advisor to Prime Minister Haider al-Abadi told the news agency at the CWC Iraq Petroleum Conference in Berlin that talks are at advanced stage at ministerial level. He said SABIC would enter […]

Chinese Companies Win Al-Faw Projects

By John Lee. Iraq’s Ministry of Oil has awarded the Al Faw [Al Fao] refinery and petrochemicals project to two Chinese companies. In a statement, the ministy named the companies as Power China and “Nerco Chinese Companies“. Mr. Assim Jihad, the spokesman of the Ministry,  said the refinery will have a capacity is 300,000 barrels/day. […]

Saudi, Iraq sign 18 Major Energy Deals

By John Lee. Saudi Arabian companies have signed 18 agreements with the Iraqi government to jointly develop several key projects in the energy sector. The statement from the Iraqi Oil Ministry gave little detail, but quotes the Saudi Minister of Energy Khalid Al-Falih as saying that Saudi companies are keen to develop relations with Iraq, […]

Japanese Company considers Gas Pipeline and Petchem Plant

By John Lee. Iraq has reportedly contracted Japan’s Toyo Engineering to help build a gas pipeline to Kuwait and a petrochemical plant as Baghdad. According to a report from Reuters, the move will help Iraq to reduce flaring and finish paying the reparations owed to Kuwait for the invasion in 1990. The project would allow […]

Shell to Exit Iraqi Oil Business

By John Lee. Oil giant Shell is trying to sell its stake in the Majnoon oilfield (pictured) in southern Iraq, following a failure to reach agreement with Iraq’s Ministry of Oil. A Shell spokesman told UAE-based newspaper The National: “Following extensive discussions with the Ministry of Oil, the oil minister of Iraq formally endorsed a […]

Lukoil in Talks on Iraq Petrochemical Project

By John Lee. Russia’s Lukoil is in talks with Shell and Total regarding their participation in a petrochemical complex in southern Iraq. President Vagit Alekperov (pictured) told TASS: “To create a petrochemical complex – now the negotiations are under way with Shell and with Total. The Iraqi side supports our efforts.” He added that Iraq […]

Shell Signs $11bn Petrochemical Deal

By John Lee. Shell has reportedly signed a deal with Iraq worth $11 billion (12.8 trillion Iraqi dinars) to build a petrochemicals plant in Basra. On Wednesday, Industry Minister Nasser al-Esawi [Nasser al-Issawi] told a press conference that the Nibras complex would make Iraq the largest petrochemical producer in the Middle East. The news comes […]

Total Considers “World-Scale” Petrochemical Plant

By John Lee. French oil giant Total is reported to be considering building a “world-scale” petrochemical complex in Iraq. AFP reports that Patrick Pouyanne, the head of Total’s refining and chemicals division, said he signed a preliminary accord with Iraq’s industry ministry in November to examine the feasibility of the complex in Basra. “They are […]