Tag Archives | Zhenhua

Iraq "Pauses Oil Pre-Payment deal with China"

By John Lee. Iraq has reportedly "put on hold" it oil contract with China's Zhenhua Oil. The multi-billion-dollar agreement would have seen Zhenhua pre-pay Iraq's State Oil Marketing Organization (SOMO) for a regular supply of crude oil. Oil prices have risen significantly since the deal was struck. More here. (Source: S&P Global)

Chinese Consortium to Develop Dhi Qar Refinery

By John Lee. Iraq's Ministry of Oil has signed an outline agreement with a Chinese consortium for the development of the Dhi Qar refinery. A Ministry official described the signing of the initial principles agreement as an important step forward, and a prelude to the signing of the final investment contract for the Dhi Qar […]

Iraq signs $2bn Oil Deal with Chinese Firm

By John Lee. Iraq has reportedly awarded a Chinese company a deal which would see it paying $2 billion upfront for a year's supply of oil. Alaa al-Yasiri, General Manager of State Oil Marketing Organization (SOMO) told Iraqi News Agency (INA) that a Chinese company had won the contract ahead of a European company, but […]

Drilling approved at East Baghdad Oil Field

By John Lee. Iraq is to renew the contract to drill three new directional (non-vertical) oil wells in the East Baghdad oil field. The decision was approved at the meeting of the Iraqi Cabinet on Tuesday. The field is being developed by China's ZhenHua Oil. (Source: Govt of Iraq)

Rockets strike near Chinese oil site in Iraq

By John Lee. Two rockets have reportedly struck near a Chinese oil facility south of Baghdad on Saturday. According to AP, there were no casualties. It cites an Iraqi army statement saying the rockets struck near a Chinese company in the Nahrawan area, and speculates that the company involved is┬áZhenHua, a subsidiary of the arms […]

Dunia Weekly Iraq Market Tracker

Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]