The Rise of Private Chinese Oil Companies in Iraq

Private Chinese oil companies are expanding their presence in Iraq, joining China’s state majors in pouring billions into the development of hydrocarbons in the OPEC member. Per a Reuters report, Chinese independents in Iraq are about to see their collective output there rise to half a million barrels daily by 2030, based on estimates by company executives. For context, state giant CNPC currently accounts for half of Iraq’s oil production through the operatorship of some of the country’s largest fields, including Rumaila, West Qurna…