The latest news on CNPOC (China National Petroleum Corporation)and Iraq – Oil, Petroleum, Gas and more – brought to you by Iraq Business News
Output at Iraq’s Halfaya oilfield will rise to 70,000 barrels a day in 2012 with the drilling of 48 wells, As Sabah newspaper said on Tuesday. Bloomberg reports that two projects valued at a total of $187 million will be built next year at the oilfield. The projects include a crude oil processing facility with […]
Reuters reported on Sunday that output at Iraq's Rumaila South oilfield has been restored to 460,000 barrels per day after pipeline bombings last week. The report said two production stations were restarted on Sunday morning to start pumping 460,000 bpd to Zubair storage, and two more stations would be operating by the afternoon. Output from […]
Iraq's Oil Ministry has formally approved a proposal to raise production at the al-Ahdab oil field to 200,000 bpd. The Chinese National Petroleum Company (CNPC) that started exploring the field in June. It is considered to be CNPC's largest oil investment in the Middle East and the first oil field to be newly explored in […]
Reuters reports that a fire has broken out at a state-run gas compression unit at Iraq's Rumaila oilfield on Tuesday, killing one person and hitting oil production. "We have stopped exporting gas that would have been exported into this compressor and this will have an impact on our production from Rumaila," BP spokesman David Nicholas […]
Petrofac, the international oil & gas facilities service provider, and China Petroleum Engineering & Construction Corporation (CPECC), the engineering and construction subsidiary of China National Petroleum Company (CNPC), have established a new strategic joint venture, China Petroleum Petrofac Engineering Services (CPPES). Based in Sharjah, UAE, the joint venture will provide project management and engineering services […]
The governor of Iraq's Wasit [Wassit] province, Mahdy al-Zubaidy, has announced that production at the al-Ahdab oilfield has reached 60,000 barrels per day (bpd). According to a report from Bloomberg, he went on to say that the field’s output capacity will increase to 120,000 bpd by the end of the year, while Oil Minister Abdul […]
Iraq has asked China to set up a fund to help with the reconstruction of the war-battered country, Iraqi government spokesman Ali al-Dabbagh said on Monday during a visit to Beijing by Iraqi Prime Minister Nuri al-Maliki. Reuters reports that he also said Baghdad was keen to get Chinese companies investing in the country, which […]
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 […]
The China National Petroleum Corporation (CNPC) and its partners in the southern Halfaya oilfield have awarded a $174 million contract to the China Petroleum and Engineering Corp. (CPECC) to build three crude processors, an Iraqi oil official told Reuters on Sunday. Ali Maarij, head of Iraq's state-run Missan Oil Company said the new plants will […]
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 […]
BP lifted its first cargo of Basra light crude from Rumaila this week, according to a report in the Telegraph. The cargo is worth about $200m [240 billion Iraq dinars]. The company is working with China National Petroleum Corporation (CNPC) on the field and the two companies are due $1bn for boosting production, drilling new […]
The consortium of Chinese, Malaysian and French companies working on the Halfaya oil field, 35 km east of Amara, in Maysan [Missan] province, have completed drilling four oil wells. Ali Altarfi, the media department of Missan Oil Company, told Aswat al-Iraq that, "the plan is to drill 300 wells in this gigantic oil field within […]
