Royal Dutch Shell is entering Middle East, in particular Iraq with a force. It has recently announced a downstream petrochemical complex in the southern part of Iraq pending Heads of Agreement signing.
The petrochemical facility will produce cracked ethylene from ethane gas cracker. The complex is eavesdropped to be costing $11 billion. Shell is the world leader in integrated energy from upstream to downstream and feedstock for the petrochemical facility will most likely to come from Shell presence in Iraq in the Majnoon oil field near Basra. The oil field is currently churning out almost 200kbpd of oil.
It is not clear when the project is expected to come on-stream. Taking the already existing MoU last year, it is expected that the project will be on fast track.
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