Iraq has been saying it wants to produce more oil and gas for a while now but turning stated ambitions into reality has taken a while.
Whilst the U.S. and its allies appear to be taking a subtle approach to advancing their remaining interests in Iraq, as hinted at by the Qatar’s talks to buy a 30 percent stake in TotalEnergies’ US$27 billion project package, China seems to be taking a more direct route to what it wants.
Iraq has awarded oil concessions to Crescent Petroleum and other Chinese companies as part of its fifth licensing round, Iraq’s Oil Minister Hayan Abdul Ghani was quoted on Thursday as saying.
Russian foreign minister head of a large delegation that includes ‘oil and gas companies and investors’, with Iraqi foreign ministry confirming ‘Iraq’s openness to all of its friends’
It has long been a point of extreme contention with the U.S. that Iraq continues to rely on neighbouring – sanctioned – Iran for around 40 percent of its power supplies, constituted in large part by imports of gas.