Tag Archive: gas

on September 6, 2013 in World News

Russia, China Close In On Multi-Billion Dollar Gas Deal

Russia, China Close In On Multi-Billion Dollar Gas Deal Russian energy giant Gazprom and state-owned China National Petroleum Corporation (CNPC) have signed an agreement towards a potentially multi-billion dollar gas supply deal to China, reported Reuters, though both sides are yet to reach a final accord on price. The terms were signed on Thursday by the heads of both companies in the presence of Presidents Vladimir Putin and Xi Jinping ahead of the G-20 meeting in St. Petersburg; defining “the volumes, start of deliveries, payments, ‘take-or-pay’ amendment” and other issues for the deal, but giving no further details on the… View Article

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on August 10, 2013 in World News

PetroChina joins Exxon to dominate Iraqi oil industry

PetroChina joins Exxon to dominate Iraqi oil industry China’s biggest oil producer PetroChina will be developing Iraq’s giant oil field West Qurna with American Exxon Mobil. The deal could make Chinese energy giant the biggest foreign investor in Iraq’s oil industry. China already dominates the oil fields around southern Iraq, Reuters reports. PetroChina was the first foreign company to strike an oil deal in Iraq after US-led forces overthrew Saddam Hussein. It is now developing Iraq’s biggest oilfield Rumaila with BP. The PetroChina-Exxon agreement could be announced in weeks. “PetroChina will participate in developing the field,” Reuters quotes an industry… View Article

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