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Zhongman Petroleum responds to Middle East business progress: Iraq project location is secure, expected to start production in 2028
The ongoing tension in the Middle East has sparked global concerns over oil supply, causing the A-share oil and gas sector to surge. Several listed companies are involved in Middle Eastern operations. A reporter contacted Zhongman Petroleum as an investor, and the staff member stated that the company’s Iraq project is located in a relatively safe area. Currently, the main impact of the Middle East situation is on oil exports. The Iraq oil field has not yet fully produced oil, so the impact is limited. “We expect production to start around 2028, and it will take even longer to reach full capacity and start exporting products.” (21 Finance)