Chinese companies are well positioned to participate in Iraq’s efforts to expand its oil production capacity and develop domestic gas supplies, as they are actively engaged in various energy-related undertakings throughout the country. However, if indeed China’s strategy is, as some have suggested, to become the dominant player in Iraq’s economy, achieving that objective will likely prove difficult given Iraq’s challenging operating environment and contentious politics.
Three most recent principal cooperation agreements between China, Russia and Iran will have immediate consequences for oil and gas flows around the world and their pricing
The disagreement between Baghdad and the KRG about oil revenues has led to the suspension of contracts for IOCs in Iraq’s north, but now it seems that the ban has been relaxed by Baghdad