China displaces European companies from Iraq's energy sector
The Iraqi government is setting increasing the country's oil reserves to more than 160 billion barrels, a strategic goal for the next stage, on a strong path to support its steps in terms of ongoing economic reforms, and support its ability to achieve sustainable development and improve its economic reality.
Iraq has high hopes for its crude oil exports, especially with the formation of more than 90 percent of the Iraqi budget revenues, which prompted it to launch a set of projects to increase production and open the way for investments in the field of oil and gas field exploration.
In this context, Chinese companies have emerged as a major player in the oil investment arena in Iraq, in contrast to the absence of American and European companies, through the acquisition of many new investments by a number of companies to explore oil and gas fields in Iraq, as part of the licensing round launched by the Ministry of Oil to develop the oil and gas sector in the country
No comments:
Post a Comment