The latest China – Iraq Business News – Chinese Electricity Company, CNPC, CNOOC, PetroChina & more – brought to you by Iraq Business News
By John Lee. Iraq's trade surplus with China narrowed sharply in 2025, as imports from China rose while oil export revenues declined, according to data published by the Ministry of Trade. The figures, compiled by the ministry's Directorate of External Economic Relations, show that Iraqi imports from China rose by 7.5 percent to approximately $17.02 […]
By John Lee. The Iraqi Oil Exploration Company has completed a 2D seismic survey at the Qarnain block in Najaf province, finishing 31 days ahead of the scheduled timeline. The survey covered 2,850 kilometres and recorded 47,500 energy points, achieving a completion rate of 108 per cent. Work began on 10 October 2025 and concluded […]
By John Lee. Iraq has formed a special committee to oversee the Basra-Haditha multi-directional oil pipeline project, following a meeting chaired by Prime Minister Mohammed Shia' Al-Sudani. The committee will be headed by the Under-Secretary of the Ministry of Oil and will include relevant advisers to the Prime Minister as well as directors-general from the […]
By John Lee. A contract has been signed to drill 17 horizontal wells in the East Baghdad South oil field, as part of ongoing development efforts in Iraq's central region. The agreement was concluded between Iraqi Drilling Company (IDC) and Chinese firm EBS Petroleum [Zhenhua Oil], in the presence of Midland Oil Company Director General Mohammed […]
By John Lee. Iran has reportedly begun charging up to $2 million per ship for safe passage through the Strait of Hormuz. The payments, according to the report from Deutsche Welle, would be a breach of international maritime law. This follows a recent statement from Iran's Ministry of Foreign Affairs, denying that the Strait is […]
By John Lee. The Iraq Oil Exploration Company has completed a two-dimensional seismic survey programme for the Al-Qurnain exploration project in Najaf province, aimed at expanding Iraq's geological database and supporting future oil and gas discoveries. The project forms part of efforts by the Ministry of Oil to strengthen hydrocarbon exploration activities and increase the […]
By John Lee. The Central Bank of Iraq (CBI) has announced completion of the principal phase of its comprehensive reform programme for commercial, Islamic and foreign bank branches operating in Iraq. According to the Bank, all Iraqi banks have submitted the required documentation under the "minimum requirements" framework, selecting one of three pathways: Continuing in […]
By John Lee. The National Investment Commission (NIC) has conducted a field visit to the Al-Jawahiri Residential City project, located in in Abu Ghraib, west of Baghdad. An engineering team inspected progress at the housing development, reviewing implementation stages and assessing compliance with the terms of the investment licence and approved timelines. The visit focused […]
By John Lee. The Arab Energy Fund has led and closed a $346 million reserve-based lending (RBL) facility for Kuwait Energy Basra Limited (KEBL), operator of Block 9 (Faihaa Field) in Basra and a wholly owned subsidiary of China's United Energy Group Limited (UEG). The financing will support the next phase of expansion and development […]
By John Lee. China Oil HBP Science & Technology Co., Ltd. has signed an EPCOM [Engineer, Procure Construct, Operate and Maintain] contract worth $225,218,000 for the Naft Khana oilfield rehabilitation project with NK Petroleum Company Limited and its Iraq branch. The contract covers engineering, procurement, construction, operation and maintenance services aimed at restoring crude oil […]
By John Lee. State-run Iraqi News Agency (INA) reports that plans have been announced to develop clean energy power plants in Baghdad, Basra and Nineveh. It quotes the regional director of Shanghai (sic) as saying that the already-announced Nahrawan project in Baghdad will convert 5,000 tonnes of waste per day into 110MW of electricity, with […]
By John Lee. The longest horizontal oil well ever drilled in Iraq has been completed at the East Baghdad oil field, southern area. The project was delivered by the Midland Oil Company in cooperation with the Chinese firm EBS Petroleum [Zhenhua Oil] and involved the drilling of the horizontal well EBMK-8-1H. The well reached a total […]
