🚨 $2.5B Oil Deal: China Secures Massive Offshore Pipeline Project in Iraq 🇮🇶🇨🇳💥

 🚨 $2.5B Oil Deal: China Secures Massive Offshore Pipeline Project in Iraq 🇮🇶🇨🇳💥

🔧 CPEC Wins Bid: China Petroleum Engineering Corp. (CPEC), under CNPC, lands a $2.5 billion contract for a major offshore pipeline project in Iraq.

🛢️ Boost to Exports: The project will expand Iraq’s offshore oil export capacity, increasing crude output and boosting vital national revenue.

🌏 China’s Energy Strategy: This deal underscores China’s commitment to securing oil from Iraq, one of its key energy suppliers.

📈 Middle East Presence Grows: Confirms the rising influence of Chinese firms in Iraq and the region's energy sector.

👷‍♂️ Job Creation: The construction and operation phases are expected to generate thousands of jobs for locals and contractors.

🤝 Deepening Ties: Reflects strengthening Iraq–China economic relations, especially in energy and infrastructure development.

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China Petroleum Engineering wins bid for massive offshore pipeline project in Iraq

China Petroleum Engineering Corporation (CPEC), a subsidiary of the China National Petroleum Corporation (CNPC), announced it has won a bid for a major offshore pipeline project in Iraq. The project is expected to be worth approximately $2.5 billion.

This project represents an important step towards strengthening Iraq's oil export infrastructure, particularly its offshore component, which will contribute to increasing the country's capacity to pump and export crude oil.

According to economic websites, a Chinese company's winning of this massive bid confirms the growing role of Chinese companies in the global oil and energy sector, particularly in the Middle East and Iraq.

This major investment reflects China's commitment to securing and diversifying its energy sources, as Iraq is one of the world's largest oil producers and a major supplier to China.

The project is expected to contribute to the creation of significant job opportunities, both directly and indirectly, during the construction and operation phases.

This pipeline could also contribute to increasing Iraq's oil export revenues, which is vital for the country's economy, which is heavily dependent on oil revenues.

This project is another example of the growing economic cooperation between Iraq and China, which includes many sectors, particularly energy and infrastructure.  link