February 19, 2024 [Iran Oil Gas]- The Iraqi government is looking for another international company to partner on the Nibras petrochemicals project in Basra days after Shell withdrew, read a statement from the government office.

According to the statement, the project has experienced delays since 2015 and the government is prioritizing its implementation as part of economic reform efforts.
In 2015, Shell signed an agreement with the Iraqi government to build the Nibras petrochemicals plant in Basra. It was expected to come online in six years, but its launch has been delayed several times, reportedly due to cash shortages.

The statement reads that the PM instructed the Ministry of Oil to provide a report detailing the international companies interested in participating and executing the project, ensuring they meet the necessary specifications and standards for the project facilities.

Shell will continue supporting the Basra Gas Company, a joint venture between Baghdad (51 percent), Shell (44 percent), and Mitsubishi (five percent) aimed at achieving Iraq’s energy independence, especially with gas, according to the Iraqi government.

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