By John Lee.

Shell is reported to be still in the process of evaluating the viability of the $11-billion Nebras petrochemical complex in Basra.

The project was designed to produce 1.8 million mt/year of various petrochemicals, using naphtha as a feedstock.

Last year, Reuters reported that Saudi Basic Industries Corp (SABIC) was in talks to join the project, but according to S&P Global Platts there has been no update on the progress of these talks.

(Source: S&P Global Platts)

By John Lee.

A Chinese company has reportedly won a contract to build a natural gas liquids (NGL) plant in Basra.

According to Xinhua, China’s Petroleum Engineering and Construction Corporation (CPECC) signed the contract on Wednesday with Iraq’s Basra Gas Company (BGC).

As a result of the new plant, BGC will increase its gas production capacity by 40 percent.

The Basra NGL facility will be built in Ar-Ratawi area in west of Basra and is scheduled to complete at the end of 2020.

CPECC is a subsidiary of the China National Petroleum Corporation (CNPC),

(Source: Xinhua)

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

 Baghdad defends advantages of Iraq-Jordan agreement from critics

Iraqi Prime Minister Adel Abdul Mahdi and his Jordanian counterpart, Omar al-Razza, signed 14 economic agreements Feb. 2 between the two countries, during their meetings on the Iraqi-Jordan border, where a joint industrial city will be established.

The agreements include the transport, trade, health, agriculture, finance and energy sectors.

The recent economic agreements between the Iraqi and Jordanian governments have raised controversy in Iraq, as some Iraqi political and economic institutions believe these understandings favor Jordan and harm Iraq. The Asaib Ahl al-Haq (League of the Righteous), headed by Qais Khazali, said “the Iraqi citizens will pay the tax of these agreements.

As with most other issues in Iraq, these agreements divided Iraqi political camps into two. One was welcoming, and the other denounced the agreements as having no economic feasibility for Iraq — especially those related to extending a pipeline from Iraq’s oil-rich government of Basra to Aqaba.

Click here to read the full story.

GE Power has announced that it has provided an advanced 9E gas turbine to Iraq’s Al Qudus Power Plant.

The company will also service up to seven GE 9E gas turbines at the facility throughout 2019, including maintenance, supply of parts and rehabilitation.

GE is installing the new gas turbine at the site and it is expected to generate up to an additional 125 megawatts (MW) of electricity.

The service agreement will enhance the reliability of operations at the plant, helping to maintain a stable supply of up to 875 megawatts (MW) of power over the course of the coming year.

GE employs up to 300 people in Iraq, with offices in Baghdad, Basra and Erbil.

(Source: GE)

The EU has announced an additional €30 million in humanitarian assistance. Another €20 million in development funding will contribute to the reconstruction of the country’s cultural heritage, as well as the creation of jobs and opportunities for vulnerable youth.

The announcement was made by Commissioner for Humanitarian Aid and Crisis Management Christos Stylianides (pictured), on the occasion of his sixth visit to Iraq today.

Commissioner Stylianides said:

Each time I visit Iraq, I see the hope of its people despite the challenging circumstances. At this critical moment for the country, our new funding reaffirms the EU’s commitment to stand in solidarity with all Iraqis and will help the most vulnerable.”

Commissioner for International Cooperation and Development Neven Mimica added:

The EU is committed to the reconstruction of Iraq. With today’s new support, we will help to restore the rich cultural heritage of Mosul and Basrah, and at the same time create much needed jobs and opportunities.”

Whilst in Iraq, Commissioner Stylianides, alongside Belgian Deputy Prime Minister Alexander De Croo, visited Mosul, where schools and hospitals are being supported by EU funding to help the most vulnerable get access to essential services. In Erbil, the Commissioner visited camps hosting thousands displaced by conflict. In Baghdad, the Commissioner held meetings with the Iraqi authorities.

Humanitarian assistance: The new EU humanitarian assistance worth €30 million will include protection, emergency healthcare, basic shelter, food, safe water, sanitation and hygiene to those in the greatest need throughout the country. These include Iraqis who remain displaced and Syrian refugees in Iraq. It will provide mental health support, increasing services for survivors of sexual violence, and ensuring physical therapy and rehabilitation to war-wounded. Furthermore, the EU will support the resumption of basic public services including health, education, and water supply in war-affected areas, such as Mosul, western Anbar and Hawija.

Development cooperation: The €20 million development cooperation will provide tailored technical and vocation training opportunities for youth in the construction sector, to help to recover the historic urban landscape of Mosul and Basrah. In addition, it will provide small grants to Small and Medium Enterprises and associations, with a focus on the revival of socio-economic and cultural activities. This funding, to be signed on 21 February, is part of the flagship initiative ‘Revive the Spirit of Mosul’ run by UNESCO, and designed to foster social cohesion and promote peace. With the full support of the Government of Iraq, the initiative will focus the restoration and rehabilitation of cultural heritage, as well as the revival of educational and cultural institutions. This measure is part of the EU’s pledge at the Iraq Reconstruction Conference held in Kuwait in February 2018.

Today’s funding announcement brings total EU humanitarian assistance to Iraq to €420 million and development cooperation to €309 million since the beginning of the crisis in 2015.

(Source: EU)

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Economic treaty between Iraq, Jordan stirs Iraqis’ discontent

Iraqi Prime Minister Adel Abdul Mahdi and his Jordanian counterpart, Omar al-Razza, signed 14 economic agreements Feb. 2 between the two countries, during their meetings on the Iraqi-Jordan border, where a joint industrial city will be established.

The agreements include the transport, trade, health, agriculture, finance and energy sectors.

The recent economic agreements between the Iraqi and Jordanian governments have raised controversy in Iraq, as some Iraqi political and economic institutions believe these understandings favor Jordan and harm Iraq. The Asaib Ahl al-Haq (League of the Righteous), headed by Qais Khazali, said “the Iraqi citizens will pay the tax of these agreements.”

Click here to read the full story.

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Riyadh woos Iraqis with security talks, economic projects

Falih al-Fayadh, head of the Popular Mobilization Units and Iraq’s national security adviser, visited Saudi Arabia Jan. 31 in a sign of the new and improved ties between the two countries.

As Fayadh is close to Iran and widely viewed as a pro-Iran candidate for interior minister in the government of Prime Minister Adel Abdul Mahdi, his visit aimed to reassure Riyadh that the PMU will target neither it nor its interests in Iraq.

A few days before Fayadh’s visit to Saudi Arabia, Riyadh renewed its support for Baghdad, especially in terms of security, in a Jan. 24 phone call between Saudi Crown Prince Mohammed bin Salman and Abdul Mahdi.

In light of the tension prevailing over the region, the phone call emphasized Riyadh’s desire to make up for the past and create a positive relationship with Iraq.

Click here to read the full story.

By John Lee.

Shell has reportedly announced that the Basrah Gas Company (BGC) has taken a “final investment decision (FID)” on its growth programme, which will increase BGC’s capacity by 40 percent.

According to Oil and Gas Middle East, the decision was taken with the support of all BGC’s shareholders: South Gas Company (SOC), Shell and Mitsubishi.

BGC captures flared gas from the Rumaila, West Qurna 1 and Zubair oilfields, converting it into dry gas for power generation and liquids for the domestic market and for exports.

At the heart of the new development is the Basrah Natural Gas Liquids (Basrah NGL) project; a 400 million standard cubic feet per day greenfield gas processing plant at Ar Ratawi.

More here.

(Source: Oil and Gas Middle East)

Justice announces the publication of the budget of 2019 Iraqi newspaper facts
2/11/2019

The Ministry of Justice announced on Monday the issuance of the new issue of the Iraqi Gazette No. (4529) on the Federal Budget Law No. 1 of 2019 approved by the House of Representatives and approved by the President of the Republic.


The Director General of the Iraqi Facts Department Kamel Amin Hashim said in a statement received by Alsumaria News, a copy of it, "the budget law to ensure the transfer of money from some ministries to the liberated provinces and the province of Basra and detailed sentences in terms of spending, investment and loans,"


noting that "the law included the request of the Council The Ministry of Electricity, as well as continuing to grant staff five-year leave and the introduction of grades for the popular mobilization and tribal mobilization. "


"The number also includes the law banning the importation of food products, as well as agricultural products that have a similar local product, according to the agricultural calendar," he added.


The Iraqi fact sheet included the details of the budget and its adjustments for the current year 2019.

https://www.alsumaria.tv/news/260501…D9%8A%D8%A9/ar

Economist: Kurdistan region is the only beneficiary of the budget
2/9/2019

Tai said in a statement to "Bourne" The Kurdistan region is the only beneficiary of the 2019 budget due to make a lot of concessions on the part of the federal government , notably overlooked payment of the province of Baghdad earlier dues amounted to $ 32 billion. "

He added that" the current year ‘s budget does not meet the ambitious province Basra and the provinces that suffer from poverty and acute shortage of services. "

http://alghadeer.tv/news/detail/90029/