PetroChina, the single biggest investor in Iraq's oil sector, is pulling some of its staff out of the Middle East nation, but production remains unaffected as militant Islamists threaten the unity of OPEC's second-largest producer.
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
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.
Qatar delivered its first super tanker cargo of liquefied natural gas (LNG) to PetroChina on Saturday under a long-term agreement, state-run Qatargas said.
'Delivered onboard the Q-Max vessel, Bu Samra, this is the first Qatari LNG Q-M
Chinese oil major PetroChina is in talks with the government of Fujairah to build oil storage facilities at the Fujairah port, industry and port sources told Reuters.
Petrochina, the world's second-most valuable oil firm after Exxon Mo
PetroChina has diverted the Very Large Crude Carrier (VLCC) 'Front Kathrine' to Fujairah port in the United Arab Emirates after discharging just above half its crude cargo in China, according to shipbrokers and AIS tracking data.
State-owned CNPC, China's largest oil and gas firm, is progressing well with its oil exploration and development projects in Iraq and Iran, a company newspaper said.
The parent of PetroChina started drilling the first appraisal well, N
PetroChina will start work to develop the giant Iraqi oilfield Halfaya in the second half of this year after the newly awarded contract has taken effect, chairman Jiang Jiemin said on Friday.
"Halfaya contract has already taken effect. Our
PetroChina, the world's most valuable oil and gas producer, said it plans to pump up its refining capacity by two-thirds by 2017, banking on fuel pricing reforms at home to improve its finances as it bids to become a major global refiner.