Editing Basra (section)

==Economy==
[[File:Al Basrah Oil Terminal (ABOT).jpg|thumb|[[Al Basrah Oil Terminal]].|left]]
Basra is known as "Iraq's economic and industrial capital".<ref>https://presidency.iq/EN/Details.aspx?id=922</ref> The strategic location made the city, had transformed the city an important hub of trade and commerce.<ref name=":0">{{Cite book |url=https://unhabitat.org/sites/default/files/2021/03/basra_urban_profile_-_english.pdf |title=Basra Urban Profile}}</ref> Basra's economy is largely dependent on the oil and heavy industry. In the early 1970s, Basra was chosen as a nodal point for Iraq's development. A number of projects were launched during this period, such as oil refineries and chemical plants.<ref>{{Cite web |title=العراق يخطط لإنشاء قاعدة عسكرية بحرية كبيرة |url=https://aawsat.com/home/article/1835396/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%AE%D8%B7%D8%B7-%D9%84%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D9%82%D8%A7%D8%B9%D8%AF%D8%A9-%D8%B9%D8%B3%D9%83%D8%B1%D9%8A%D8%A9-%D8%A8%D8%AD%D8%B1%D9%8A%D8%A9-%D9%83%D8%A8%D9%8A%D8%B1%D8%A9 |access-date=2021-12-19 |website=الشرق الأوسط |language=ar}}</ref> In April 2017, the [[Iraqi Parliament]] recognized Basra as Iraq's economic capital.<ref name="Iraqi Parliament passes motion">{{Cite web |date=27 April 2017 |title=Iraqi parliament recognizes Basra as economic capital |url=https://search4dinar.wordpress.com/2017/04/27/iraqi-parliament-recognizes-basra-as-economic-capital/}}</ref> 

Iraq has the world's [[List of countries by proven oil reserves|4th largest oil reserves]], estimated to be more {{convert|115|Goilbbl}}.<ref name=":0" /> Some of Iraq's largest oil fields are located in the province, and most of Iraq's oil exports leave from [[Al Basrah Oil Terminal]].<ref name=":0" /> The Basra Oil Company, formerly the [[South Oil Company]], has its headquarters in the city.<ref name=":9">{{cite web | url=https://www.iraqoilreport.com/news/restructuring-south-oil-company-renamed-22004/ | title=After restructuring, South Oil Company is renamed | date=5 April 2017 }}</ref> Basra has emerged as an important commercial and industrial center for the country, as the city is home to a large number of manufacturing industries ranging from petrochemical to water treatment.<ref name=":9" />

Substantial economic activity in Basra is centred around the [[petrochemical]] industry, which includes the Southern Fertilizer Company and The State Company for Petrochemical Industries (SCPI).<ref name=":9" /> The Southern Fertilizer Company produces ammonia solution, [[urea]] and [[nitrogen]] gas, while the SCPI focus on such products as [[ethylene]], caustic/chlorine, [[vinyl chloride monomer]] (VCM), [[polyvinyl chloride]] (PVC), [[low-density polyethylene]], and [[high-density polyethylene]].<ref name=":9" />

Basra is in a fertile agricultural region, with major products including rice, [[maize|maize corn]], [[barley]], [[pearl millet]], wheat, [[date (fruit)|dates]], and livestock. For a long time, Basra was known for the superior quality of its dates.<ref name="EB1911" /> Basra was known in the 1960s for its sugar market, a fact that figured heavily in the [[English contract law]] remoteness of damages case [[The Heron II]] [1969] 1 AC 350. Fishing was an important business before the oil boom.