By John Lee.
Iraq's giant Nibras (Nebras) petrochemical project looks set to be revived, according to a statement from the Iraqi government.
The Cabinet made a number of decisions relating to the project this week, including:
- Setting the price of the gas used to operate the project at 1.5 dollars per million British thermal units (BTUs), with the Ministry of Finance bearing the difference in the price sold by the Basra Gas Company (BGC);
- The General Company for Iraqi Ports transferring ownership of the land to the General Company for Petrochemical Industries for the purpose of allocating it to the Nibras Petrochemical Project.
The project, intended to produce 1.8 million mt/year of various petrochemicals, using naphtha as a feedstock, has been suspended since 2015.
Original reports relating to this involved Shell.
The Ministry of Industry has begun to contract with an international consulting company to move to the next step.
(Source: Govt of Iraq)
No comments yet.