Search results for "cnpc"

Halfaya 3

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 […]

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BP, CNPC Increase Stakes in Rumaila

By John Lee. Reuters reports that a revised contract signed last week by BP and China's CNPC for the Rumaila oilfield has raised both companies' stakes in the project. Thamer Ghadhban (pictured), energy adviser to former Prime Minister Nuri al-Maliki, told the news agency that BP's share has been increased from 38 percent to 47.6 […]

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CNPC: New Maysan Pipeline Complete

By John Lee. China's CNPC has announced the completion of a 272 kilometre crude oil pipeline which connects Halfaya and Burzugan [Bazargan] oilfields in southern Iraq to the Al-Faw port. Incredibly, CNPC have remarked that the pipeline is passing through 30km of areas that were once minefields during the Iran-Iraq war. Today, southern Iraq is […]

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BP, CNPC get $4.5bn Rumaila Payment

By John Lee. BP and China National Petroleum Corporation (CNPC) have received a total of $4.5 billion until the end of 2012 for their investments in the Rumaila oil field, according to a report from the Wall Street Journal. A senior Iraqi oil official told the newspaper that Baghdad has paid a total of $8.5 […]

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CNPC's First Crude Cargo leaves Basra for China

On December 14, the first cargo with 2 million barrels of crude oil from Iraq's Halfaya Oilfield left Basra for China, indicating that China National Petroleum Corporation (CNPC)'s Halfaya Project has entered investment payback period ahead of schedule. Halfaya Project is the first to become operational and begin investment recovery amongst the seven international projects that […]

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CNPC to Replace Statoil at West Qurna-2?

By John Lee. The China National Petroleum Corporation (CNPC) is reported to be in talks with Russia's OAO Lukoil about joining the company’s West Qurna-2 project in Iraq. Lukoil is seeking a partner for a 30 percent stake in the project following the exit of Norway's Statoil’s, Nefte Compass said, citing Andrei Kuzyaev (pictured), head […]

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CNPC Completes First Phase of Al-Ahdab Field

Reuters reports that the China National Petroleum Corp (CNPC), the first foreign oil company to sign an oil service contract in Iraq after former president Saddam Hussein was toppled, said on Monday said that it completed construction of the first phase of the Al-Ahdab oilfield. The parent of PetroChina Co Ltd said it started work […]

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CNPC Gets First Oil Payment for Rumaila

China National Petroleum Corp (CNPC) has started to get paid for developing Iraq's Rumaila oilfield, according to reports from the China Petroleum Daily. The company received its first cargo of oil as payment for helping to develop the oilfield on 28th May, two weeks after partner BP loaded its first shipment. A crude oil carrier […]

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CNPC Tenders for Drilling and Survey at Halfaya

China National Petroleum Company (CNPC) and its partners Total of France and Petronas of Malaysia, have issued a tender for work in Iraq's 4.1-billion-barrel Halfaya oilfield. Reuters reports that the consortium has advertised on Monday looking for bids from companies to supply a drilling pad and to survey existing wells. The tender closes on June […]

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BP, CNPC First to Receive Development Costs

BP and its partner China National Petroleum Corporation (CNPC) will be the first companies to be paid back by the Iraqi government for developing Iraq's supergiant Rumaila oil field, a senior Iraqi oil official told Dow Jones Newswires. "The first company that we are going to pay back costs and remuneration fees to will be […]

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Oil Ministry Denounces Police Raid in CNPC Oilfield

Further to our report yesterday on the police raid on CNPC's al-ahdab oilfield, Iraq's Oil Ministry said on Tuesday that security forces had violated the law, and expressed concern for the affect it could have on foreign investment in the oil sector. "Oil sites and facilities are under the control of the Central Government and […]

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