Date
21 October 2017

CNPC buys 25% interest in Iraq oilfield, Xinhua says

China National Petroleum Corporation (CNPC) has agreed to acquire a 25 percent stake in Iraq’s West Qurna 1 oilfield from U.S.-based ExxonMobil, Xinhua reported Thursday. According to CNPC, the deal will create synergy with its other energy projects in Iraq as well as cement its presence in the area. West Qurna is about 50 kilometers northwest of Basra and is one of the largest oilfields in the world, the report said.

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