A subsidiary of the Chinese state-owned ZhenHua Oil declared Iraq as its core market and promised to grow investments. The company emphasized that Iraq’s energy sector will remain a priority as it looks to strengthen global energy ties.
Executives noted that Iraq offers strong opportunities for oil production growth and gas utilization. They explained that the country has vast resources that can support long-term expansion. Moreover, ZhenHua Oil wants to position itself as a reliable partner for Baghdad.
The company highlighted that Iraq’s petroleum industry aligns with China’s energy security strategy. Leaders pointed out that Iraq’s reserves provide stability and supply diversification. Furthermore, Beijing values the steady cooperation that has developed between the two countries.
Iraq aims to raise production and cut gas flaring. Government officials continue to seek international partners who can deliver technology and capital. As a result, ZhenHua Oil’s pledge adds momentum to Iraq’s strategy.
The company’s representatives also stressed that their investments will target both oil and gas projects. They noted that such projects will help Iraq capture more value from its energy resources. In addition, ZhenHua Oil sees downstream opportunities in refining and petrochemicals.
Baghdad continues to encourage foreign participation in energy ventures. Policymakers want to attract companies that can bring expertise and innovation. Consequently, ZhenHua Oil’s focus on Iraq’s oil industry signals growing confidence in the sector.
China has steadily increased its role in Middle Eastern energy over recent years. It has formed stronger ties with oil-rich nations and expanded its presence. Meanwhile, Iraq stands out because of its large untapped potential and strategic location.
Industry experts believe that partnerships like this will accelerate Iraq’s modernization. They argue that investments from international firms can help reduce wasteful practices such as flaring. Moreover, foreign capital ensures that Iraq maintains competitiveness in global markets.
ZhenHua Oil expressed optimism about deepening its role. Leaders underlined that their strategy involves aligning with Iraq’s economic vision. They also mentioned that cooperation will continue to grow across multiple segments of the energy industry.
As Iraq pursues higher production levels, it needs reliable partners. Companies like Zhenhua Oil can provide the necessary technology and funding. Therefore, the future of Iraq’s energy landscape looks stronger with ongoing commitments from foreign investors.
