The latest China – Iraq Business News – Chinese Electricity Company, CNPC, CNOOC, PetroChina & more – brought to you by Iraq Business News
By John Lee. Foreign Minister Hoshyar Zebari has met the Ambassador of the People's Republic of China, Wang Yong. The Minister confirmed Iraq's participation in the Fourth Summit of the Conference on Interaction and Confidence-Building Measures in the Asia States to be held in Shanghai, China. Iraq participates in the conference with a delegation comprising […]
Technip, in partnership with China HuanQiu Contracting & Engineering Corporation (HQC), has been awarded a front-end engineering design (FEED) contract for the Ar Ratawi Natural Gas Liquids (NGL) train1 project at North Rumaila in Basra. The deal was awarded by the Basra Gas Company (BGC), a joint venture between the Iraq's South Gas Company (51%), […]
By John Lee. Pakistan's Lucky Cement has started production in Iraq from February of this year, in a 50/50 joint venture with the Al-Shawy family. The company's CEO, Muhammad Ali Tabba (pictured), told Dawn that a total of $40 million has been invested in the grinding mill in Basra, which has a capacity of 3,000 […]
By John Lee. China's Dongfang Electric Corp. has completed the first of 10 high speed, desert modified diesel trains at a ceremony attended by Iraq's ambassador to China, Railway Gazette reports. The trains were ordered in 2012, a year after Iraq announced plans for a Basra to Baghdad high speed rail route, an initiative that does not […]
Iraq’s Ministry of Water Resources has taken delivery of seven 55-tonne GT-550E-2 truck cranes from the Japanese company Tadano, via its distributor, United Iraqi Trading Equipment (UITECO). Manufactured by Tadano's Beijing manufacturing joint venture BQ-Tadano, the four axle GT-550 features a five section 42 metre boom plus a 8.8 to 15.2 metres bi-fold swingaway that […]
By John Lee. Gazprom Neft, operator of the Badra oilfield, has reported the successful completion of well-testing at its BD4 appraisal well at the end of December, 2013. Potential production capacity was tested through the sequential testing of six drilled strata, followed by final testing of all pay horizons concurrently. A daily natural flow rate […]
By John Lee. China's Caixin has reported that the Missan Oil Company (MOC) has suspended all activities of a company called Hermic, an oilfield service company controlled by former executives of the China National Petroleum Corp. (CNPC). Hermic is said to have won at least 12 engineering outsourcing contracts worth US$75 million from CNPC at the […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. China and CNPC are Consolidating Further their Positions in Iraq Petroleum Sector Four years after the first bid round took place, some international oil companes (IOCs) are consolidating their positions. while others […]
By John Lee. ExxonMobil signed agreements on Thursday with PetroChina for a 25 percent participating interest in the West Qurna I project in Iraq, and with Indonesia's Pertamina for a 10 percent participating interest in West Qurna I. ExxonMobil retains 25 percent interest and remains lead contractor. The transfer has been approved by the South Oil […]
By John Lee. Russia's Gazprom Neft has picked a contractor to drill six production wells in the Badra field in Iraq which it operates. China’s Zhongman Petroleum and Natural Gas Group Co., Ltd (ZPEC) has won the tender. The contract includes engineering, procurement and drilling of wells. Two rigs will start drilling in March 2014. […]
By John Lee. Reuters reports that China's state-owned Sinochem Corp plans to use Iraqi crude oil for 40 percent of the capacity of its new refinery, in what the article describes as "the latest example of Iraq beating Middle Eastern rivals in the competition for new markets in Asia". The deal wold replacing a preliminary […]
By Adnan Abu Zeed for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Abu Ahmad blows puffs of smoke from his cigarette into the air while standing in front of a pile of used clothes he has spread out on the ground in Bab […]
