The latest China – Iraq Business News – Chinese Electricity Company, CNPC, CNOOC, PetroChina & more – brought to you by Iraq Business News
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 […]
By John Lee. Iraq's Ministry of Oil has awarded the Al Faw [Al Fao] refinery and petrochemicals project to two Chinese companies. In a statement, the ministy named the companies as Power China and "Nerco Chinese Companies". Mr. Assim Jihad, the spokesman of the Ministry, said the refinery will have a capacity is 300,000 barrels/day. […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced the five additional companies have been approved to bid for Iraq's "borderline onshore & offshore exploration blocks & fields." The companies are listed as: Dana Gas (UAE) Dragon Oil (UAE) Geo-Jade Petroleum (China) Schlumberger (USA) Zarubezhneft (Russia) Eight companies had applied for approval. […]
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 […]
Advertising Feature Basra Oil, Gas & Infrastructure is held under the high patronage of the Basra Governorate, the Basra Council and Iraq’s Basra Oil Company from October 30 to 31 in Beirut, Lebanon. Government officials, project stakeholders and buyers and suppliers attend to explore the expanding energy projects in the South of Iraq. Jereh Group made […]
Baker Hughes, a GE company, has signed an agreement for the provision of turbine generators to PetroChina International Iraq, in the biggest Turbomachinery & Process Solutions (TPS) agreement ever between the two companies. BHGE will deliver its Frame 6B gas turbine electric generator trains to support power generation for the Halfaya oilfield located in the […]
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 […]
Petrofac has been awarded a contract, valued at around US$30 million, to undertake Project Management Consultancy (PMC) services for the Halfaya Contract Area (Halfaya) in southern Iraq. Working in support of PetroChina International Iraq FZE (PetroChina), as the lead operator of Halfaya, Petrofac’s Engineering and Production Services (EPS) East business will undertake project management services […]
By John Lee. Iran's Trade Promotion Organization (TPOI) has issued data showing that five countries -- China, Iraq, UAE, South Korea and India -- accounted for 68.7 percent of Iran's total non-oil exports in the first five months of the current Iranian fiscal year (March 20-Aug. 22). Its non-oil exports (including gas condensate) fell 5 percent […]
By John Lee. A recent report suggests that, in the uncertainty following the recent Angolan election, the Iraqi assets of the state-owned oil company Sonangol are in play. Writing in Seeking Alpha, Jay Currie says the the Najmah and Qaiyarah [Qayara] oil fields may be transferred to Russian service company Eurasia Drilling, and questions the […]
Hutchison Ports and the Pritzker Family Business Interests (“PFBI”), advised by The Pritzker Organization, L.L.C. (“TPO”), announced today that the leading Hong Kong-based port operator has agreed to partner with NAWAH Port Management, L.L.C. (“NPM”) to manage existing and future operations at the historic Port of Basra in southern Iraq. Hutchison Ports will assume oversight […]
By John Lee. The Chinese President Xi Jinping has announced that China will provide 80 million yuan ($11.7 million) in new financial aid to the Iraqi government for post-war reconstruction. In a letter to Iraqi President Fuad Masum, delivered by the Chinese Ambassador to Iraq Mr. Chen Weisheng, the Chinese President China added that China […]
