Comment on Will Shell (RDS.A) Stock Be Helped Today by $11 Billion Iraq Petrochemicals Plant Deal?

twocents@thestreet.com (Tedd Cohen), The Street
Wed, 01/28/2015 - 6:17am

Will Shell (RDS.A) Stock Be Helped Today by $11 Billion Iraq Petrochemicals Plant Deal?

NEW YORK (TheStreet) -- Shares of Royal Dutch Shell are down 1.24% to $65.86 in pre-market trade after it was reported that the independent oil and gas company signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said today, Reuters reports. Esawi told a press conference in Baghdad the Nibras complex, which is expected to come on line within five to six years, would make Iraq the largest petrochemical producer in the Middle East. "The Nibras complex will be one of the largest (foreign) investments (in Iraq) and the most important in the petrochemical sector in the Middle East," Esawi said, according to Reuters. Exclusive Report: Jim Cramer's Best Stocks for 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months.

 

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