POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]
[size=52]News website: Chinese companies dominate the Iraqi energy sector[/size]
[size=45]Translated by / Hamed Ahmed[/size]
[size=45]A report by the Rio Times news website indicated that Chinese oil and gas companies, during the last day of a licensing round launched by the Iraqi government to enhance oil and gas production and support the electric energy sector in the country, won the majority of licenses for the fifth supplementary round and the sixth round, and major Western companies abstained from competing. The country seeks to move from using petroleum fuel to operate power plants to gas fuel and stop importing it from neighboring countries.[/size]
[size=45]Chinese companies have secured major contracts to develop oil and gas fields in Iraq, which reflects their increasing dominance over the energy sector in the country, as their expansion extends to multiple regions, which enhances the strength of their presence in the Middle East oil and gas market.[/size]
[size=45]The report indicated that Zhongman Petroleum & Nageral Gas Group (ZPEC), a Chinese oil and gas production company, had won a contract worth $390 million to carry out engineering services in the Rumaila oil field.[/size]
[size=45]This contract, which lasts for four and a half years, confirms the depth of the economic ties between Chinese companies and the energy industry sector in Iraq.[/size]
[size=45]In addition, China National Offshore Petroleum Corporation, as well as CAMC Engineering Construction Company, both won a contract worth $594 million, and will develop central processing plants in Block 9 of the oil region in Iraq.[/size]
[size=45]The report states that there is a large presence of Chinese energy companies in southern Iraq, especially within major important strategic projects such as the Nasiriyah refinery station in Dhi Qar Governorate, as this project will serve as a major storage and processing station for crude oil in southern Iraq.[/size]
[size=45]The importance of Iraq in terms of the oil and energy sector lies in the possibility of expanding its oil export stations and docks and the huge proven oil reserves it contains. The Iraqi Oil Minister, Hayyan Abdul Ghani, had expressed his hope during the opening of the two licensing rounds last Saturday, which will last for three days, that the country’s oil reserves would exceed 1,160 billion barrels through investment in 29 fields alongside exploratory patches of oil and gas.[/size]
[size=45]Chinese companies are also focusing on the gas sector, and this has become clear from several contracts they signed with Iraq to develop oil and gas fields in Diyala and Basra governorates. These projects come in line with Iraq’s broad strategy to achieve self-sufficiency in gas production within three years.[/size]
[size=45]The report indicated that this wave of Chinese investment contracts comes at a time when the presence of major Western companies in Iraq has declined. Part of this is due to reasons, security concerns, and other challenges in the political scene. This shift indicates the return of a new arrangement in the energy sector in Iraq, with the increasing presence of Chinese companies in it to fill a void left by giant Western companies that left the country.[/size]
[size=45]The American company, Exxon Mobil, handed over its production operations in the West Qurna 1 oil field in Basra at the beginning of January of this year to the Chinese company PetroGina.[/size]
[size=45]The report states that the increase in the role of Chinese companies in Iraq calls for attention because it reflects broader geopolitical aspects, indicating that the expansion of Chinese influence in the energy markets of the Middle East region may reformulate international energy policies.[/size]
[size=45]Iraq, which seeks to diversify its partnership in the field of energy and strengthen its economy, has found a desire in China to achieve this partnership and achieve what the country aspires to in this field.[/size]
[size=45]While Iraq continues to attract billions of dollars in investments aimed at developing its oil and gas sector, Chinese companies have come forward to offer their services in tenders to win contracts and play a vital role in developing the Iraqi energy sector.[/size]
[size=45]It is noteworthy that the number of oil blocks and fields in the two licensing rounds amounted to 29 blocks and fields, and that China acquired 18% of the total blocks offered for investment in these two rounds.[/size]
[size=45]• From the Rio Times news website[/size]
[size=45][You must be registered and logged in to see this link.]
[size=52]News website: Chinese companies dominate the Iraqi energy sector[/size]
[size=45]Translated by / Hamed Ahmed[/size]
[size=45]A report by the Rio Times news website indicated that Chinese oil and gas companies, during the last day of a licensing round launched by the Iraqi government to enhance oil and gas production and support the electric energy sector in the country, won the majority of licenses for the fifth supplementary round and the sixth round, and major Western companies abstained from competing. The country seeks to move from using petroleum fuel to operate power plants to gas fuel and stop importing it from neighboring countries.[/size]
[size=45]Chinese companies have secured major contracts to develop oil and gas fields in Iraq, which reflects their increasing dominance over the energy sector in the country, as their expansion extends to multiple regions, which enhances the strength of their presence in the Middle East oil and gas market.[/size]
[size=45]The report indicated that Zhongman Petroleum & Nageral Gas Group (ZPEC), a Chinese oil and gas production company, had won a contract worth $390 million to carry out engineering services in the Rumaila oil field.[/size]
[size=45]This contract, which lasts for four and a half years, confirms the depth of the economic ties between Chinese companies and the energy industry sector in Iraq.[/size]
[size=45]In addition, China National Offshore Petroleum Corporation, as well as CAMC Engineering Construction Company, both won a contract worth $594 million, and will develop central processing plants in Block 9 of the oil region in Iraq.[/size]
[size=45]The report states that there is a large presence of Chinese energy companies in southern Iraq, especially within major important strategic projects such as the Nasiriyah refinery station in Dhi Qar Governorate, as this project will serve as a major storage and processing station for crude oil in southern Iraq.[/size]
[size=45]The importance of Iraq in terms of the oil and energy sector lies in the possibility of expanding its oil export stations and docks and the huge proven oil reserves it contains. The Iraqi Oil Minister, Hayyan Abdul Ghani, had expressed his hope during the opening of the two licensing rounds last Saturday, which will last for three days, that the country’s oil reserves would exceed 1,160 billion barrels through investment in 29 fields alongside exploratory patches of oil and gas.[/size]
[size=45]Chinese companies are also focusing on the gas sector, and this has become clear from several contracts they signed with Iraq to develop oil and gas fields in Diyala and Basra governorates. These projects come in line with Iraq’s broad strategy to achieve self-sufficiency in gas production within three years.[/size]
[size=45]The report indicated that this wave of Chinese investment contracts comes at a time when the presence of major Western companies in Iraq has declined. Part of this is due to reasons, security concerns, and other challenges in the political scene. This shift indicates the return of a new arrangement in the energy sector in Iraq, with the increasing presence of Chinese companies in it to fill a void left by giant Western companies that left the country.[/size]
[size=45]The American company, Exxon Mobil, handed over its production operations in the West Qurna 1 oil field in Basra at the beginning of January of this year to the Chinese company PetroGina.[/size]
[size=45]The report states that the increase in the role of Chinese companies in Iraq calls for attention because it reflects broader geopolitical aspects, indicating that the expansion of Chinese influence in the energy markets of the Middle East region may reformulate international energy policies.[/size]
[size=45]Iraq, which seeks to diversify its partnership in the field of energy and strengthen its economy, has found a desire in China to achieve this partnership and achieve what the country aspires to in this field.[/size]
[size=45]While Iraq continues to attract billions of dollars in investments aimed at developing its oil and gas sector, Chinese companies have come forward to offer their services in tenders to win contracts and play a vital role in developing the Iraqi energy sector.[/size]
[size=45]It is noteworthy that the number of oil blocks and fields in the two licensing rounds amounted to 29 blocks and fields, and that China acquired 18% of the total blocks offered for investment in these two rounds.[/size]
[size=45]• From the Rio Times news website[/size]
[size=45][You must be registered and logged in to see this link.]
» Parliamentary Investment: Amending the Investment Law will eliminate exceptions
» Dollar exchange rates in Iraqi stock exchanges
» utube 7/26/24 MM&C IQD Update - Iraqi Dinar Revaluation Update - Key Players - Exchange Rate Stabi
» utube 7/25/24 MM&C Iraq Dinar Update - IQD Revaluation-Key Indicators - Deposit Insurance -Arbitra
» utube 7/23/24 MM&C Iraq Dinar-Prime Minister Advisors-Saleh-Al-Nusairi-Facts bringng facts-Reforms
» MMK&C 7/21/24 Government Advisor: Adopting auditing of foreign transfers contributes
» MM&C 7/21/24 Proposed measures to address the rise of the dollar
» Iraq ranks high in income inequality among citizens
» Within months.. Al-Imar: The amount of loans disbursed amounted to about 750 billion dinars
» Parliamentary Integrity confirms the start of opening the files of former officials
» Iraq and the German Development Bank sign an amendment to the loan agreement to finance a number of
» Regional oil...between export ban and smuggling suspicions
» Economist: Faw Port is an important step towards sustainable economic development and a major gatewa
» Parliamentary Investment "Mocks" Solution to Housing Crisis in Complexes: "Joke" and Government Must
» Multi-million dollar agreement to support Iraqi agriculture
» From Chaos to Law.. The Crowd Breathes with the First Reading of “Service and Retirement”
» Oil Minister inaugurates first phase of associated water injection project in Rumaila field
» Water Resources: The reality of desertification in Iraq is better than before
» Disappearance of 50,000 Pakistani tourists in Iraq.. Government position: We will start the investig
» Iraq reveals the value of its agricultural exports: 400 thousand tons in 6 months
» Electricity directs the rapid implementation of the solar power plant project in Khanaqin
» Worth $20 billion.. Iraq is second in trade exchanges with Iran
» (56) megawatt card.. Opening of the gas power plant in Majnoon field
» Parliamentary Committee: Amending this law will address many problems
» Iraq and the German Development Bank (KFW) sign an amendment to the loan agreement to finance a numb
» Finance discusses regulating the work of government banks with international auditing firm Ernst & Y
» The Prime Minister receives the approval of the coalition of companies that won the investment oppor
» US Ambassador: We helped Iraq with $3.6 billion in the displaced file
» In two stages.. The Minister of Oil inaugurates the associated water injection project in the Rumail
» Who manipulated the budget settings? Adding 15 trillion dinars for the benefit of the people or for
» Statement of the Iraqi Communist Workers’ Party on the “Personal Status Law Amendment” Project
» The American arm has become short.. Iraq will eradicate the “SDF” from Syria
» The idea of the “Sunni region” is maturing again.. The insistence of Western politicians collides
» Iraq takes its share of negative development and faces “electronic blackmail”
» Education in Iraq: Between the lack of schools and the delay in providing supplies
» Economist lays out solutions to get rid of the dollar’s dominance: moving towards a currency baske
» The Presidency of the Republic issues a special pardon for a bank manager accused of embezzlement
» The Ministry of Agriculture reveals the volume of its exported products in numbers
» Transport reveals its latest steps towards lifting the European ban on Iraqi Airways
» "Doors are closed" in Parliament.. Will political pressures result in the election of a new presiden
» Prime Minister's Advisor: Kirkuk government formation will be decided within 20 days
» US dollar exchange rate stability in Baghdad
» Reconstruction: New applications for Housing Fund loans will be opened when liquidity is available
» The US Federal Reserve adopts a new strategy towards Iraq.. The dollar is threatened with rising to
» First government comment on the leakage of 50 thousand Pakistanis in Iraq
» Parliamentary Integrity Committee announces keeping the session hosting the Minister of Water Resour
» Parliamentarian reveals the reason for the recent talk about the Sunni region
» Secrets of the Coordination Framework meeting with the Sunni forces.. Three proposals to resolve the
» Iraqis' spending on tourism is equivalent to the electricity budget.. What is the number of traveler
» "Two Papers of the Tashah in Parliament"... Warnings against implicating the legislative institution
» Turkish Minister reveals details about the security corridor in Iraq and the development road projec
» Does it stipulate the marriage of minors? What does the paragraph amending the Personal Status Law i
» One of the motives of the "salary scale".. Iraq is ranked 87th globally in "income inequality"
» "Vigilant Guardian"... Harmonious Supervisory Cooperation to Guarantee Citizens' Deposits in Iraqi B
» Saleh: The Central Bank's dollar reserves are solid and the GDP rate is very optimistic
» Economist accuses political parties of controlling the exchange rate on the black market
» Minister calls for establishing centers for Turkish commercial agencies inside Iraq
» 98% increase in foreign remittance sales at the Central Bank of Iraq auction
» Important meeting between Al-Sudani and the "Arabs of Kirkuk" to decide on the formation of the prov
» Housing projects in the Kurdistan Region are expensive internally and suitable externally
» Slight decline in the "green paper" in Baghdad stock exchanges
» OPEC: Iraq, Russia to compensate for surplus oil production
» Economist: The Iraqi banking sector has achieved significant growth
» Does integrity interfere with the work of institutions when they conduct investigations into suspici
» Parliamentary Finance: The Central Bank agrees to increase the capital of the Real Estate Bank to ex
» The region lags behind "electronic systems".. Transactions are still paper-based and the authenticit
» Media Authority: We are working on strategic agreements with global companies to bridge cybersecurit
» Al-Sudani stresses the importance of completing the formation of the Kirkuk government and reaching
» The region lags behind "electronic systems".. Transactions are still paper-based and the authenticit
» Iraq prepares to sign strategic agreements with global companies to bridge the digital divide in the
» Exporting (10) million liters of black oil daily.. Oil: Karbala has become an oil port that supplies
» Used as a gift and used for fraud.. The Central Bank warns against the circulation of commemorative
» Judge Faeq Zidane: International cooperation is important in the field of combating terrorism
» Al-Abbasi: Framing the relationship with Washington according to the Iraqi constitution
» Within 6 months.. The European ban on the green bird will be resolved
» Thwarting the smuggling of 21 million liters of petroleum derivatives
» Record
» Production of 24 thousand electric cars annually
» The second phase of the campaign (restricting weapons to the state) begins
» Inclusion of social protection beneficiaries in internal contracts
» The Prime Minister directs the rapid completion of Baghdad entrance projects
» Minister of Labor announces launch of health insurance service for social protection beneficiaries
» Via "Baghdad Today" .. Oil Minister announces increasing social benefits to 10 million dollars
» Joint Statement by the Iraqi and US Ministries of Defense
» Al-Sudani meets with a delegation from the American engineering consulting company KBR
» Kurdistan procrastinates to obtain the "lion's share".. Discontent over the delay in localizing empl
» Withdrawal is "Out of Reach"... Analysis of the Joint Iraqi-American Statement
» Al-Sudani stresses the importance of completing the formation of the Kirkuk government and reaching
» "Black Money" Fuels Investment Stock Exchange.. Countries That Prospered with Looted Iraqi Money
» Central Bank warns against circulation of $1 million commemorative notes
» Planning for “Al-Zawraa”: The five-year plan targets different sectors and does not include traditio
» “Unfair and deepens sectarianism”.. Why did the amendment to the Personal Status Law spark anger in
» Launching an electronic application for Iraqi retirees
» The crowd responds to Halbousi: A person convicted of forgery is not qualified to appoint himself as
» Al-Fayadh: We appreciate the Iraqi Parliament’s progress with the first reading of the service and r
» Nassif: The political process needs Al-Sadr and Al-Maliki to “rule” it
» Al-Mandlawi winks at Al-Halbousi: We reject insulting those who presented thousands of martyrs
» adhere to the rules of the Islamic religion and needs to be reformulated (tweet)