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 […]
By John Lee. A spokesman for Iraq's Ministry of Industry and Minerals has said that the ministry is about to finalise a partnership contract with French company Total to set up a giant petrochemical project in Basra province. Abdul Wahid al-Shammari made the comments following a visit by the company's representative in Baghdad. He said the […]
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 […]
By John Lee. Shell has had discussions with Iraqi Ports Administration regarding the possibility of acquiring a piece of land at the Umm Qasr terminal to build a pier and petrochemical factory. According to Aswat Al Iraq, talks between the two sides were held to discuss the project which shall be administered by the company […]
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 […]
South Korea's Hanwha Chemical Corporation has announced that it has signed a letter of intent (LOI) to build a petrochemical plant in Iraq. South Korean news agency Yonhap reports that the LOI was signed in Seoul by the president of Hanwha Chemical, Bang Han-hong (pictured), and Iraq’s Deputy Minister of Industry, Mohammad Zain. Hanwha will build […]
By John Lee. The Wall Street Journal reports that Shell and the Iraqi government are nearing a deal to build an $11-billion petrochemical facility in southern Iraq. In addition to its development of the Majnoon oil field, Shell also signed a $17.2-billion deal last year to collect natural gas from Iraq's southern oil field production. […]
By John Lee. India is interested in building refineries and petrochemical plants in Iraq, according to a report from the Economic Times. Oil Minister M Veerappa Moily (pictured), who led a 28-member delegation to participate in the 17th India-Iraq Joint Commission meeting in Baghdad, expressed interest in setting up gas-based projects including fertiliser plants. He […]
Chevron Phillips Chemical Co., a joint venture between Chevron and ConocoPhillips, signed a letter of intent to evaluate the feasibility of developing a petrochemical plant in Iraq, according to a report from Bloomberg. Hanaa al-Husseini, a spokeswoman for the Industry and Minerals Ministry, said the company would look into building a new facility and upgrading […]
Iraq has ambitious plans to build on its booming energy sector. The sector will be used to build upon its petrochemicals industry, Iraq is looking to foreign firms to invest up to $35 – 50 billion from 2017 – 2023. During this period the plans aim to produce around 10 million tonnes of petrochemicals a […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Iraq has signed a Memorandum of Understanding in Baghdad with Shell to make a technical and economic feasibility study to set up a major petrochemical plant, reports Aswat al-Iraq. “Iraq has a big vision to cope with the big leaps in the oil sector in the coming few years through the use of the natural […]
