ZhenHua expands China’s role in Iraq’s Oil Sector

By John Lee.

Iraq Oil Report reports that the China ZhenHua Oil Company, a subsidiary of state-owned arms manufacturer Norinco, is poised to make two new investments in Iraq’s oil sector.

It says the company is forming a new oil trading joint venture with the State Oil Marketing Organization (SOMO) and is negotiating the upstream development of the East Baghdad oil field.

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(Source: Iraq Oil Report)