Two years after US giant's pull-out, China-run Iraqi oil field facilities put into operation скачать в хорошем качестве

Two years after US giant's pull-out, China-run Iraqi oil field facilities put into operation

Iraq signed a major energy deal on Wednesday with a Chinese petrol company in the southern province of Basra, aiming to boost oil production and build a refinery and electricity plants. China has gained a major foothold in oil-rich Iraq in recent years, becoming a major player across various sectors and now one of the largest importers of Iraqi crude. Iraq’s Oil Minister Hayan Abdel Ghani announced in a statement the signing of the mega-project with a consortium comprising of Geo-Jade Petroleum and the Iraqi company Hilal al-Basra. The project aims to increase oil production in the Tuba field to 100,000 barrels per day, according to Abdel Ghani. It also covers the building of a refinery with a capacity of 200,000 bpd, a 650-megawatt electricity plant and a solar power facility with a capacity of 400 megawatts. The deal further includes a petrochemical plant and a fertiliser factory. Abdel Ghani said the project “would contribute to the country’s economic development and provide job opportunities for thousands” of Iraqis. The ministry has not disclosed the cost nor timeline for the deal. Geo-Jade Petroleum already operates in Iraq and is set to begin a controversial oil exploration project in the country’s south that activists fear will significantly impact the Mesopotamian Marshes of Huwaizah. According to the World Bank, Iraq has 145 billion barrels of proven oil reserves, among the largest in the world, amounting to 96 years’ worth of production at the current rate. Iraq has been trying to move past decades of war and unrest, including a sectarian struggle after the 2003 US-led invasion that toppled Saddam Hussein. It is also plagued by rampant corruption and mismanagement causing poverty and unemployment to persist despite the country’s natural resources. It only recently regained a semblance of stability and authorities hope to attract investments, especially in the energy sector. Earlier this year, Iraq finalised an agreement with energy giant BP to develop oil fields in the north. Last month, it signed a memorandum of understanding with US energy firm GE Vernova to produce 24,000 megawatts of electricity. Despite its oil wealth, Iraq depends on imports to meet its energy needs, and it hopes to increase natural gas production to reduce its reliance on neighbouring Iran, a crucial supplier of power. _________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What's up today in Shanghai, the most updated news of the city    • Плейлист   ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them    • Amazing Shanghai and China 淘宝魔都玩转中国   ■ What Chinese people's lives are like during the post COVID-19 period    • COVID-19 新冠疫情   ■ Views of foreign scholars on China and its affairs    • Voices, Let's Listen! 听她他说   ■ Foreign faces in Shanghai, people living in this city sharing their true feelings    • Плейлист   ■ Mini-docs showing why China is the country it is today    • Stories & Documentary 奇闻逸事记录中国   __________________ ☎Leave us messages if you have any suggestions or questions! Thank you!