Tag Archives | China National Petroleum Corporation (CNPC)

China Wins $121m West Qurna-1 Contract

By John Lee. China Petroleum Engineering & Construction Corp (CPECC) has reportedly won a $121-million contract to upgrade gas capture facilities at West Qurna-1 oilfield. According to Reuters, the project is due to be completed within 27 months. (Source: Reuters)

Oil Ministry’s “Odious Contract Trap” with ExxonMobil

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil and the “Odious Contract’ Trap” with ExxonMobil’ Consortium Talks have intensified recently about the continuation of negotiations between the Ministry of Oil (MoO) and ExxonMobil/CNPC consortium that might […]

Rumaila hits 30-yr High in Oil Production

The Rumaila oilfield produced 1.467 million barrels per day (bpd) in 2018 – the oilfield’s highest annual rate of production for 30 years. 2018 also saw the milestone of four billion barrels of oil produced since the Rumaila Operating Organisation [ROO] began operating in June 2010. The results were reported in the 2018 Rumaila Annual […]

235-MW Rumaila Power Station Opened

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has officially opened the Rumaila power station. The construction of the 235 MW plant was supervised by the China Petroleum Engineering & Construction Corporation (CPECC), the engineering and construction subsidiary of the China National Petroleum Corporation (CNPC). The Minister said the project is considered as […]

LUKOIL completes 3D Seismic Survey at West Qurna-2

Russia’s LUKOIL has reported that it has completed a field 3D seismic survey at West Qurna-2 field. The survey covered an area of about 450 square kilometers. The Company has fulfilled all of its contractual obligations to the Ministry of Oil of Iraq. The high-quality seismic data obtained are required for the updating of the […]

Oil Minister meets PetroChina

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi] has met with the president of PetroChina in the Middle East, Mr. Shu Jian Fing, and his entourage. They discussed the development of the oil industry in Iraq, and plans to raise and investment and production of gas at the Halfaya field in Maysan province. (Source: […]

Oil Firms to Restart Investment, Boost Output

By John Lee. Reuters reports that Baghdad has reached agreement with BP, Shell and Lukoil to restart stalled investment in Iraqi oil fields, allowing production to increase by 250,000-350,000 bpd in 2017. According to documents seen by Reuters, the three firms agreed to spend in the second half of 2016 roughly half the budgets they proposed […]

The Iraqi Shanty Town Between Two Oil Fields

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between Black Gold, Bleak Prospects: Visiting The Iraqi Shanty Town Between Two Oil Fields NIQASH visits Wasit’s Oil Town. But this is no wealthy area for oil billionaires. This shanty […]

Iraq proposes Deferred Payment to CNPC

By John Lee. The head of the state-run Maysan Oil Company (MOC) has told Reuters that China National Petroleum Corporation (CNPC) can go ahead with plans to double output at Halfaya (pictured) to 400,000 bpd if it agrees to be reimbursed when the additional oil is actually produced. Adnan Noshi denied Iraqi media reports that the […]