{"id":6150,"date":"2023-06-21T12:48:15","date_gmt":"2023-06-21T12:48:15","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=6150"},"modified":"2023-06-21T12:52:21","modified_gmt":"2023-06-21T12:52:21","slug":"iraqs-budget-includes-funds-for-nibras-petrochem-project","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/6150\/","title":{"rendered":"Iraq\u2019s budget includes funds for Nibras petrochem project"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>Iraq\u2019s 2023 budget that was approved by parliament last week includes funds for the giant &#8216;Nibras&#8217; petrochemical project, an official was reported on Wednesday as saying.<\/p>\n\n\n\n<p>Roydad Naft News Agency &#8211; The record $153 billion budget also focuses on the construction of other factories as well as houses, roads and the infrastructure, cabinet spokesman Bassim Al-Awadi said.<\/p>\n\n\n\n<p>He told the official Iraqi news agency that these projects would turn OPEC\u2019s second largest oil producer into a \u201cbusy workshop\u201d in the next six months.<\/p>\n\n\n\n<p>\u201cOne of those projects is Nibras\u2026it is a large project that will turn Iraq into a major petrochemical producer and create thousands of jobs\u2026this project is one of the government\u2019s priorities in the 2023 budget,\u201d Awadi said.<\/p>\n\n\n\n<p>Nibras,&nbsp;a joint venture with Shell, is expected to cost nearly $8.5 billion and would have a production capacity of around 1.8 million tonnes per year.<\/p>\n\n\n\n<p>Officials said last week the project, which is&nbsp;based in the Southern oil hub of Basra, would generate net earnings of nearly $1.4 billion per year and that Shell would own 49 percent of its shares.<\/p>\n\n\n\n<p>The project will be completed within five-to-six&nbsp;years and will generate total revenues of around $90 billion during its 35-year operational period, according to the Oil Ministry.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-06-21T12:52:21+00:00\"> 21 June 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"Iraq\u2019s 2023 budget that was approved by parliament last week includes funds for the giant &#8216;Nibras&#8217; petrochemical project, an official was reported on Wednesday as saying. Roydad Naft News Agency &#8211; The record $153 billion budget also focuses on the construction of other factories as well as houses, roads and the infrastructure, cabinet spokesman Bassim [&hellip;]","protected":false},"author":1,"featured_media":6151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,21,35],"tags":[],"services":[],"class_list":["post-6150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-petrochemical","category-topnews"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/6150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=6150"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/6150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/6151"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=6150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=6150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=6150"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=6150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}