Why Petrochemicals?

  1. Dr Hussein al-Shahrestani recently said that Iraq needs USD 500 billion of investment in energy over the next 5 years, including petrochemicals, fertiliser, and gas-based industries.
  2. Returns generated for investors in Iraqi energy over the next 5 years are expected to be in excess of USD 6 trillion.
  3. Iraq is offering major incentives for foreign investment in downstream industries, including discounted oil and acreage.
  4. Local feedstock including naphtha and gas are widely available and can be utilised at very competitive prices.
  5. Iraq is also rich in other raw materials including phosphate rock and sulphur that complement the petrochemicals sector.

 

Petrochemical Complex 1 - Basrah

The Ministry of Industry and Minerals first established Petrochemical Complex No 1 (PC1) in 1977. The complex consists of six major processing units designed to produce polymers and petrochemicals for domestic use and for export.

PC1 has a total capacity of 436 000 t/y of petrochemical products including ethylene, polyethylene, HDPE, PVC and other petrochemical products.

Much of PC1’s infrastructure is now outdated and the plant is in urgent need of investment to reach its targeted production capacity.


 

Basra benefits from a superior location and excellent access to crude oil and other feedstocks. Iraq’s primary deepwater port is nearby at Umm Qasr. Basra is also linked by rail and expressway to Baghdad, the Al Daura Refinery, and Northern Iraq.

 
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