Tag Archives | Zhenhua Oil

SOMO “Close to JV” with China’s Zhenhua

By John Lee. Iraq’s State Oil Marketing Organization (SOMO) is reported to be close to a deal with China’s state-run Zhenhua Oil to boost its crude oil sales. According to Reuters, China is under pressure to cut oil purchases from Iran, as the United States re-imposes sanctions on Tehran. More here. (Source: Reuters)

Tags: , , ,

ZhenHua signs East Baghdad Deal

By John Lee. China’s ZhenHua Oil [Jinhua] has signed a service contract to develop the southern part of the East Baghdad oil field. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said that the signature of the contract was significant for Baghdad because it is the first project in the capital. The development of the field […]

Tags: , , , , , , ,

ZhenHua expands China’s role in Iraq’s Oil Sector

By John Lee. Iraq Oil Report reports that the China ZhenHua Oil Company, a subsidiary of state-owned arms manufacturer Norinco, is poised to make two new investments in Iraq’s oil sector. It says the company is forming a new oil trading joint venture with the State Oil Marketing Organization (SOMO) and is negotiating the upstream […]

Tags: , , , , ,

China’s Zhenhua Oil to develop East Baghdad Oilfield

China’s state-run Zhenhua Oil has agreed to develop the southern part of the East Baghdad oilfield. Under the agreement, Zhenhua will increase production at the field by 40,000 barrels per day above current production, and provide gas for power stations in the Baghdad area. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said that this contract […]

Tags: , , ,

SOMO Awards Diesel Tenders

By John Lee. Sources have told Reuters that China’s state-run Zhenhua Oil will supply diesel (500 parts per million (ppm) sulphur) to Iraq’s State Oil Marketing Organization (SOMO) through a term contract for the first time. It will supply 600,000 tonnes of the 2.37 million tonnes sought by SOMO in a tender for delivery in […]

Tags: , , , , , , , , , , ,

New Oil Bidding Round Postponed to Mid-2017

By John Lee. The Ministry of Oil is to postpone a bidding round for 12 small- and medium-sized oil fields, following criticism of the plans by experts including IBN Expert Blogger Ahmed Mousa Jiyad. In a statement, the Ministry’s Petroleum Contracts and Licensing Directorate (PCLD) said: “Following to the previous Ministry of Oil Announcement dated […]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

New Oil Development Opportunities in Iraq

By John Lee. Iraq’s Ministry of Oil has requested proposals from international oil companies interestsed in developing a number of small- and medium-sized oil fields. The fields concerned are: Sindebad (Basra governorate); Umm Qasr [Um Qaser] (Basra governorate); Rachi (Basra governorate); Abu Khema (Basra governorate); Kumait (Missan governorate); Noor (Missan governorate); Umara (Missan governorate); Dema […]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Dunia Weekly Iraq Market Tracker

Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]

Tags: , , , , , , , , , , , , , , , , ,

Zhenhua Backs Out of Iraq Venture; PPL to Proceed Alone

The Chinese firm Zhenhua has decided not to partner with Pakistan Petroleum Limited (PPL) in a bid for an exploration block in Iraq due to security issues, the Express Tribune reports. “The News”, however, reports that Zhenhua walked out on the deal because a re-drawing of the boundary of the Bloc-9 meant “the opportunity became […]

Tags: , , , ,

Another 6 Companies Added to Iraq’s 4th Energy Auction

Reuters reports that Iraq has approved six more energy companies to participate in its 4th energy auction, raising the number of pre-qualified bidders to 46. “We have six companies that were not qualified first, but after reviewing their information, we asked them to submit further documents to support their position. We have decided to qualify […]

Tags: , , , , , , , , , ,

China’s Iraq Investment

By By Mu Chunshan. Originally published in The Diplomat, and re-produced with permission by Iraq Business News. The visit by Iraqi Prime Minister Nouri al-Maliki to China didn’t just fail to grab much international media attention – there was also little coverage in the Chinese media, too. Most Chinese associate Iraq with Saddam Hussein and […]

Tags: , , , , , ,