Iraq has decided to revise the design of a major petrochemical project following a decision by oil major Shell to quit as a key investor.

Prime Minister Mohammed Al-Sudani directed the Industry and Oil Ministries to study other alternatives for Nebras project in the Southern oil hub of Basra.

“The Prime Minister instructed the two Ministries to study other options that take into consideration the new gas supply situation following the signing of contracts with France’s TotalEnergies,” a statement published in the local press said on Tuesday.

“The two Ministries have also been asked to prepare a new study about the cost of the project and its production capacity along with other details.”

Shell said on Tuesday it has withdrawn from talks on the construction of the 1.8 million tonne per year Nebras plant, of which it was supposed to control 49 percent.

Read more: Shell quits Iraqi petrochemicals plant talks

 (Writing by Nadim Kawach; Editing by Anoop Menon)


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