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Wednesday, June 12, 2024

Iraqi Oil and Gas: China’s success at the expense of the Westnote

The Iraqi Ministry of Oil announced last month (13/5/2024) the results of the oil and gas licensing round for 29 oil and gas fields.

Chinese companies obtained a number of these licenses at the expense of U.S. companies and ADNOC.

Iraqi Prime Minister Mohammad Shia Al-Sudani believes there are several reasons why China is enjoying success in the country more than the West.

This note delves into the following key aspects:

- Al-Sudani views on the results of the licensing round

- The reasons behind China’s success

- U.S. companies excuses for not winning any bids

- Why did ADNOC fail to win an offer?


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