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Shafaq News/ Oil expert Hamza Al-Jawahiri confirmed, on Monday, that the fear of Chinese domination of the Iraqi oil industry pushed him towards Western companies, indicating that Western oil companies are reluctant to contract on projects due to financial corruption.
Al-Jawahiri told Shafak News Agency, "Chinese technology is equivalent to what is available in Western companies, and these companies and laboratories in the West have transferred their factories to China, and so is the case with technology, and that China themselves developed the technology and there is no objection to Chinese technology."
He added, "The objection comes to the Chinese domination of the Iraqi oil industry, which is what Iraq fears. Therefore, it seeks to find Western and Eastern diversity in direct national production."
And Al-Jawahiri said, "Iraq refuses to have a hegemony of one party at the expense of another, and seeks to find a balance between the West and the East."
He stressed that "hegemony is rejected, as your decision will depend on the interest of this state, especially since we are talking about major development projects whose costs range from 6 to 12 billion dollars and more, and these decisions affect sovereignty and therefore countries avoid placing their eggs in one basket."
He pointed out that "contracting projects, whether investment or service, is open to all, and China is present in every competitive process."
Al-Jawahiri added, "Western companies are reticent about obtaining projects in Iraq because of financial corruption because they are held accountable in their countries if they are involved in paying bribes and are included in the blacklist, unlike Chinese or eastern companies in general with the exception of Japanese companies, and therefore they get great opportunities in Iraq."
Iraqi Oil Minister Ihsan Abdul-Jabbar, during his recent visit to France, called on French oil companies specialized in reconstruction to contribute to projects to increase production capacities, rehabilitate infrastructure, optimize gas and renewable energy investment, and improve oil working conditions and environment.
Abdul-Jabbar told Shafak News Agency; "Real investment that produces real value for the country, develops society and people, and raises the level of work ethics, is what Western companies do."
He added that "other companies are good at work, but they do not meet all these requirements," noting that "the ministry is trying to come up with the best companies capable of creating a social environment and good work and implement projects at the cheapest prices and the highest return."
A number of Western companies, including Oxon Mobil, had hinted at selling their stakes in the main oil fields in Iraq, and this step raised the fear of the Iraqi government and the Ministry of Oil in light of measures that may negatively affect Iraqi oil production, while the Minister of Oil demanded the necessity of contracting with one of the American companies in the event of an exit. Any American company from the Iraqi oil fields.
On July 4, when he was hosted by the House of Representatives, Oil Minister Ihsan Abdul-Jabbar described this step by companies that demanded to sell their shares, such as Lukoil and ExxonMobil, that the investment climate is not attractive in Iraq.
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Expert: Iraq's fear of China's domination of its oil industry is pushing it towards the West
Shafaq News/ Oil expert Hamza Al-Jawahiri confirmed, on Monday, that the fear of Chinese domination of the Iraqi oil industry pushed him towards Western companies, indicating that Western oil companies are reluctant to contract on projects due to financial corruption.
Al-Jawahiri told Shafak News Agency, "Chinese technology is equivalent to what is available in Western companies, and these companies and laboratories in the West have transferred their factories to China, and so is the case with technology, and that China themselves developed the technology and there is no objection to Chinese technology."
He added, "The objection comes to the Chinese domination of the Iraqi oil industry, which is what Iraq fears. Therefore, it seeks to find Western and Eastern diversity in direct national production."
And Al-Jawahiri said, "Iraq refuses to have a hegemony of one party at the expense of another, and seeks to find a balance between the West and the East."
He stressed that "hegemony is rejected, as your decision will depend on the interest of this state, especially since we are talking about major development projects whose costs range from 6 to 12 billion dollars and more, and these decisions affect sovereignty and therefore countries avoid placing their eggs in one basket."
He pointed out that "contracting projects, whether investment or service, is open to all, and China is present in every competitive process."
Al-Jawahiri added, "Western companies are reticent about obtaining projects in Iraq because of financial corruption because they are held accountable in their countries if they are involved in paying bribes and are included in the blacklist, unlike Chinese or eastern companies in general with the exception of Japanese companies, and therefore they get great opportunities in Iraq."
Iraqi Oil Minister Ihsan Abdul-Jabbar, during his recent visit to France, called on French oil companies specialized in reconstruction to contribute to projects to increase production capacities, rehabilitate infrastructure, optimize gas and renewable energy investment, and improve oil working conditions and environment.
Abdul-Jabbar told Shafak News Agency; "Real investment that produces real value for the country, develops society and people, and raises the level of work ethics, is what Western companies do."
He added that "other companies are good at work, but they do not meet all these requirements," noting that "the ministry is trying to come up with the best companies capable of creating a social environment and good work and implement projects at the cheapest prices and the highest return."
A number of Western companies, including Oxon Mobil, had hinted at selling their stakes in the main oil fields in Iraq, and this step raised the fear of the Iraqi government and the Ministry of Oil in light of measures that may negatively affect Iraqi oil production, while the Minister of Oil demanded the necessity of contracting with one of the American companies in the event of an exit. Any American company from the Iraqi oil fields.
On July 4, when he was hosted by the House of Representatives, Oil Minister Ihsan Abdul-Jabbar described this step by companies that demanded to sell their shares, such as Lukoil and ExxonMobil, that the investment climate is not attractive in Iraq.
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