The China National Petroleum Corporation (CNPC) has been selected to will carry out the development project for the second phase of the North Azadegan oilfield in Iran, said a report.
North Azadegan Oilfield is located about 120 km west
Saudi Aramco, the world's biggest oil producer, is in talks to acquire a stake in a China National Petroleum Corp refinery as well as retail assets, people familiar with the matter said - a deal that would help it sell more of its output t
A revised contract signed last week by British oil major BP and China's CNPC for Iraq's Rumaila oilfield has raised both companies' stakes in a joint venture formed to develop the field, a senior Iraqi oil official said.
Iraq signed revised contracts with foreign oil companies for two southern oilfields that reduced their production targets and extended the life of the deals, Iraqi oil officials said.
The revised deal with oil
China hopes to secure more fuel to sustain its rapid economic growth via the rights acquired by state-run China National Petroleum Corporation (CNPC) to produce and export oil from Abu Dhabi.
CNPC has expanded over the past decade
China will stop approving some new refining projects and plant upgrades by the country's top two state oil firms, potentially holding up billions of dollars of investment to meet rising demand in the world's second largest oil market.
Italian oil and gas group Eni is considering opening its business in Iraq to investment by Chinese oil company CNPC after offering it a stake in its bumper Mozambique gas field earlier this month, two sources said.
China National Petroleum Corp (CNPC) has emerged as the frontrunner to take over Iraq's West Qurna-1 oilfield from Exxon Mobil, a move that would diminish Western oil influence in Iraq a decade after the US-led invasion.