Oil giant Shell informed Iraqi Prime Minister Mohammed Shia’ Al-Sudani that its withdrawal from the massive Nebras petrochemical project stemmed from adjustments in its global strategy, not dissatisfaction with Iraq.

During their meeting in Rotterdam, Shell's Vice President John Crocker reassured Al-Sudani of the company's dedication to maintaining its presence in OPEC’s second-largest oil producer.

" Crocker clarified to the Prime Minister that Shell's decision to depart the project is part of broader shifts in the company's global petrochemical plans," Iraqi news channel Baghdad News reported.

Iraq's oil ministry had announced Shell’s withdrawal from the petrochemicals project on Tuesday.

The Prime Minister’s office issued a statement confirming Crocker's pledge to "sustain and strengthen" Shell's involvement in Iraq, particularly in the gas sector.

"In response, Prime Minister Sudani emphasised Iraq's desire to continue collaborating with Shell due to its vast experience across all energy fields, including renewable energy and associated gas... He further stated that Iraq stands ready to offer new investment possibilities to major energy companies," the statement added.

Read more: Why did Shell pull out of Iraq's mega petrochemical project?

(Writing by Nadim Kawach; Editing by Anoop Menon)


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