China Prepares To Close "Oil Deal Of A Lifetime" In Iraq [zero hedge]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: zero hedge
China Prepares To Close "Oil Deal Of A Lifetime" In Iraq Authored by Simon Watkins via OilPrice.com, Over the past week or so, China has eased quarantine measures in Wuhan – the city in which the global coronavirus pandemic began – with the entire lockdown scheduled to end on 8 April. With China’s President Xi Jinpiang having visited the city just a few days ago, the industrial economy across China as a whole is back working and operating at levels even above the pre-coronavirus rates, although the service sector remains more cautious. For the oil industry, this means that China is back and busy taking up where it left off in terms of exploring and developing new field opportunities. This is at a time when the U.S. is just beginning to see the full onset of coronavirus mayhem. There has been no clearer sign of this move by China than last week’s awarding of a US$203.5 million engineering contract for Iraq’s supergiant oil field , Majnoon, to the little known China Petroleum Engineerin
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