Japan’s Mitsubishi has secured a contract to expand and upgrade vital port infrastructure in the Basra region of Iraq.
BAGHDAD, June 4 (Xinhua) -- The Iraqi Ministry of Oil signed on Monday initial contracts with two Chinese companies for the exploration and development of three oil and gas blocks in Iraq.
Iraq's economy, the second-largest producer in the Opec, is expected to post a modest recovery in 2018 and pick-up in earnest next year on the back of reconstruction efforts. Though insufficient funding and endemic corruption as well as Opec oil supply cuts will weigh on the pace of progress, according to BMI Research.
BAGHDAD — A United Arab Emirates energy company and two Chinese firms emerged Thursday as the only winners in Iraq’s rushed bidding round for nearly a dozen hydrocarbon-rich areas. Only nine companies out of 26 originally prequalified decided to take part. And major oil companies — Russia’s Bashneft, Lukoil and Gasprom, America’s ExxonMobil, and France’s Total — were supposed to bid but withdrew.