Caucus Brief: China the Frontrunner to Buy Exxon out of Iraq Oil

China Caucus Blog

Posted by The Congressional China Caucus | December 21, 2012

CHINA THE FRONTRUNNER TO BUY EXXON OUT OF IRAQ OIL. Reuters reports that China National Petroleum Corp has emerged as the frontrunner to take over Iraq’s West Qurna-1 oilfield from Exxon Mobil, a move that would diminish Western oil influence in Iraq. From the piece: “U.S. oil major Exxon is giving up its stake in the giant southern oilfield after clashing with the central government in Baghdad over exploration contracts it had signed with the autonomous Kurdistan region in the north. Iraqi and Chinese sources said CNPC unit Petrochina is negotiating for Exxon's 60 percent in the $50 billion West Qurna-1 project and that there are rival bidders. Royal Dutch Shell is a minority partner. ‘CNPC has shown interest; they are there. And from our side, there is no problem with them taking on a bigger position. We are not sensitive about this,’ a senior Iraqi official said.” http://www.reuters.com/article/2012/12/20/us-iraq-energy-china-idUSBRE8BJ0ZH20121220

USCC RELEASES CONTRACTED REPORT: ‘CHINA-IRAN: A LIMITED PARTNERSHIP.” http://www.uscc.gov/researchpapers/2012/USCC_China-Iran-Report-Nov--28.pdf

FROM BEIJING WITH LOVE. The FreeBeacon reports that China’s government provided goods and expertise for Iran’s nuclear program in the past and also gave Tehran’s regime missiles and other arms according to a congressional commission report made public. From the piece: “‘The authoritarian governments centered in Beijing and Tehran share an animus towards ‘hegemonism’ and a fear of internal instability,’ the report prepared for the U.S.-China Economic and Security Review Commission states. ‘In recent decades the United States, supported by regional allies and security partners, has represented the principal hegemonic threat to Iran and China in two different regional contexts: the Persian Gulf and the Western Pacific.’ The 95-page report, ‘China-Iran: A Limited Partnership,’ was produced for the commission by the intelligence contractor CENTRA Technology and dated October 2012.” http://freebeacon.com/from-beijing-with-love/

CHINA: FRIGID WEATHER, END OF WORLD NOT RELATED. According to the WSJ, China’s meteorological authorities said forecasts for rapidly falling temperatures over the weekend in some parts of the country had nothing to do with rumors about the ‘end of the world.’ From the piece: “Zhang Fanghua, chief forecaster at the National Meteorological Center, in an interview with the state-run Xinhua news agency said it was a ‘normal trend’ for temperatures to drop sharply in the last third of December. Xinhua quoted Mr. Zhang as saying weekend temperatures in Beijing could hit -13 degrees Celsius, but that the sharp drop was unrelated to Mayan prophecy that Dec. 21 is ‘judgment day.’ State media in recent days has been busy beating down the doomsday rumors, which have sparked panic buying of candles and other supplies at least some parts of the country.” http://blogs.wsj.com/chinarealtime/2012/12/21/china-frigid-weather-end-of-world-not-related/?mod=WSJBlog&mod=chinablog

WHY THE MAYAN APOCALYPSE DATE IS SUCH A BIG DEAL IN CHINA. http://www.washingtonpost.com/blogs/worldviews/wp/2012/12/20/why-the-mayan-apocalypse-date-is-such-a-big-deal-in-china-where-its-already-arrived/

EAST ASIAN ELECTIONS OVER BUT TERRITORIAL DISPUTES STILL SIMMER. According to the LA Times, territorial disputes in the East Asian Seas featured prominently in the political campaigns that brought forth new leaders in China, South Korea, and Japan. However, don’t expect an end to the posturing because the political season is over. From the piece: “China claims that a handful of rocks in the East China Sea is a part of its ancient heritage. Known as the Diaoyus, they are a strategic component of China's mission to project an image of power throughout the region. Japan, which calls the islands the Senkakus, insists the territory has been under its control for more than a century, and Tokyo stands defiant against what it considers China's menacing incursions.” http://www.latimes.com/news/world/worldnow/la-fg-wn-asia-island-disputes-20121220,0,5584376.story

CHINA’S OTHER TERRITORIAL DISPUTE: BAEKDU MOUNTAIN. http://thediplomat.com/2012/12/21/baekdu-mountain-chinas-other-territorial-dispute/

TENSIONS BETWEEN JAPAN AND SOUTH KOREA COMPLICATE PICTURE FOR U.S. The NYT reports that tensions between Tokyo and Seoul complicate U.S. relations in the region. From the piece: “On Friday, Japan’s next prime minister, Shinzo Abe, announced he would send a special envoy to Seoul to mend ties. However, analysts remain skeptical that tensions will end with right-wing governments in power. The strains between its two closest partners in the region have already proved a headache for the United States, which has been pressing the two export powerhouses to take a bigger role in regional security to ease its own budgetary pressures. But the neighbors remain hamstrung by history, and even a relatively small deal on intelligence sharing unraveled this summer amid a dispute over how to view Japan’s harsh colonization of the Korean Peninsula before World War II.” http://www.nytimes.com/2012/12/21/world/asia/japan-and-south-korea-tensions-complicate-us-efforts-on-security.html

The Caucus Brief will return on January 3^rd, 2013.

The Caucus Brief is a daily publication for Members of Congress and Hill Staffers on China news and information compiled by the office of Congressman Randy Forbes, Founder of the Congressional China Caucus. Email Reed.Eckhold@mail.house.gov with tips, comments, or to subscribe/unsubscribe.

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