Tag Archives | China

The latest China – Iraq Business News – Chinese Electricity Company, CNPC, CNOOC, PetroChina & more – brought to you by Iraq Business News

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 […]

Five New Wells Completed at Halfaya

By John Lee. Iraq’s Ministry of Oil has announced the completion of five new oil wells at the Halfaya oil field. Mr. Adnan N. Sajit, the director general of the Maysan Oil Company (MOC), said the drilling was done by two Chinese companies contracted by Petrochina, the main operator of the field. Production at Halfaya […]

China Reaches $20bn Trade with Iraq

By John Lee. The Minister of Foreign Affairs, Dr Ibrahim Al-Jaafari, received a copy of the credentials of the new Chinese Ambassador to Iraq, Mr Chen Weiqing, at the ministry Headquarters.. “Last year, trade [between Iraq and China] reached $20 billion, and today Iraq represents the third largest partner in the Arab world,” Mr Chen […]

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China in $18bn Iraq Pipeline Deal

By John Lee. The China Petroleum Pipeline (CPP) and private company Mass Global have reportedly formed a consortium to build an $18-billion export pipeline from Basra to the Jordanian Red-Sea port of Aqaba (pictured). Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] told Reuters: “The two companies will submit their investment offer to the oil […]

Iraq Oil Exports at Record, and Fully Booked

By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) told Reuters on Thursday that Iraq’s plans to increase oil output this year will go ahead, with exports running in January at a record level and unaffected by Iran’s return to the market. He told the news agency he expects output from the […]

Iraq Bans Poultry Imports due to Avian Flu

By John Lee. Iraq has banned the importion of frozen and live poultry products from two dozen countries. According to a report from Reuters, Baghdad restricted poultry imports from France last month, following a reported outbreak of H5N1 bird flu. The ban now extends to Bangladesh, Burkina Faso, Bhutan, China, Egypt, Ghana, Hong Kong, India, […]

PetroChina, Exxon Approached to Boost Production

By John Lee. Iraq has reportedly approached PetroChina and ExxonMobil about investing in a multi-billion dollar project to help boost output from a number of smaller southern fields. The Deputy Chairman of the South Oil Company (SOC), Basim Abdul Kareem, told Reuters that the “Integrated South Project” consists of building oil pipelines, storage facilities and […]

Oil, Rail Expansion Dominate China Talks

By Simon Kent. Iraqi PM Haider al Abadi recently met with Chinese President Xi Jinping to discuss high level strategic projects for both countries to cooperate on. The major discussions focused on a plan for Iraq’s State Oil Marketing Company (SOMO) and Chinese state run refiner Sinopec to coordinate the shipment, refining and marketing of […]

China, Iraq, Plan Historic Oil Cooperation

By Simon Kent. There is growing speculation over a planned energy initiative between Iraq and China, with both Iraqi PM Haider al Abadi and oil minister Adel Abdul Mahdi travelling to China for “deep discussions” on the proposal. According to The Wall Street Journal, Unipec, the trading branch of Chinese state refiner Sinopec, will be working with […]