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FINANCIAL NEWS
PetroChina to join Exxon at Iraq’s West Qurna oilfield
12 Aug 2013
(MENAFN) PetroChina has agreed to join Exxon Mobil in developing Iraq’s giant West Qurna oilfield and is in talks with Russia’s Lukoil to buy into a second project at the field, Reuters reported.
The deal would boost its dominance and could make PetroChina the biggest single foreign investor in Iraqi oil, and industry source said.
The giant oilfield is key to Iraq’s oil expansion plans, with enough reserves to pump more than 5 million barrels per day (bpd), and it could rival the world’s biggest producer, Saudi Arabia’s Ghawar field, when its two phases are running fully.
PetroChina already partners BP at Rumaila, now Iraq’s largest producer, and operates the Halfaya and al-Ahdab fields. The company was the first foreign firm to sign an oil service deal in Iraq after the US invasion in 2003.
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13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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