Shell halts Iraqi chemical project amid global review
Reuters
Published Feb 13, 2024 18:17
Updated Feb 13, 2024 18:51
LONDON (Reuters) - Shell (LON:RDSa) said on Tuesday it will not proceed with the Nebras petrochemical project in southern Iraq as part of its review of its operations in the sector that has seen a sharp drop in profits in recent years.
"After in-depth evaluation on the feasibility of the Nebras integrated petrochemicals complex with our government partners, Shell has decided not to proceed with the project," a spokesperson said in a statement.
Shell is seeking buyers for its oil refining and petrochemicals plant in Singapore.
"Shell will continue to play a vital role in Iraq's energy landscape through our partnership in the Basra Gas Company (BGC) joint venture as the main gas processing entity in Iraq," the company said.
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Written By: Reuters
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