Iraq: Shell signs $11bn petrochemical deal

Royal Dutch Shell has signed an $11bn deal to build the Nebras petrochemical facility in southern Iraq, Iraqi industry minister Nasser Al-Essawi said on 28 January. Essawi said the plant, slated to come on line in five to six years, is expected to produce 1.8m tonnes of petrochemical products per year, though a Shell spokesman would not confirm production capacity. Iraq’s cabinet gave the project – feasibility studies for which were conducted in 2012 – the go-ahead on 13 January, and Shell said it had subsequently signed a heads of agreement with the Iraqi government.