Global Times reported that China National Petroleum Corp and BP jointly won the bidding for the al-Rumeila oil field contract in Iraq. “Despite earning only two U.S. dollars a barrel and facing various risks, China’s oil companies need to get a firm foothold in Iraq as soon as possible and increase their market share of oil and gas exploitation. Income and profit margin are secondary factors.”
Source: Global Times, July 2, 2009
http://finance.huanqiu.com/roll/2009-07/503661.html