PetroChina has bought a 25 percent stake in the West Qurna-1 oilfield project from Exxon Mobil, strengthening China's hold on Iraq's energy resources.
China is already the top foreign player in Iraq's oilfields, which
Sheikh Mansour Hamid Al-Imara clutches his prayer beads and watches a huge new oil facility nearing completion across the road from his village, hoping that Russian operator Lukoil will offer his poor tri
About 170 Iraqi nationals completed a training programme at Lukoil Overseas Mid-East, a Russia-based subsidiary that manages international oil and gas production and exploration projects.
The trainees were assigned to different fa
China and Indonesia are set to join Exxon Mobil's $50 billion project to develop Iraq's West Qurna-1 oilfield, company and industry sources said on Thursday.
Various scenarios for farming out Exxon's 60 percent stake i
China's biggest energy firm PetroChina will join Exxon Mobil in developing Iraq's giant West Qurna oilfield and is in talks with Russia's Lukoil to buy into a second project at the field, industry sources said.
Exxon Mobil is in negotiations to sell 5 percent of its stake in Iraq's West Qurna-1 oilfield to Abu Dhabi's state-run investment fund Mubadala, part of the US major's moves to reduce its exposure there, Iraqi oil o
China is willing to join Exxon Mobil in a giant Iraqi oilfield project, a top executive said on Tuesday, which could see Beijing come to dominate Iraq's oilfields and help the US major mend fences with Baghdad.
Russia's second-largest crude producer Lukoil said it has cut its oil production plan in Iraq by almost a third, in line with the local government's plans to increase the lifetime of its oilfields.
Andrei Kuzyayev, head of