They are practical people. They dont have anything to do with politics or religion. They just work and eat and sleep. International energy experts said the Chinese had a competitive advantage over Western oil companies working in Iraq. They noted that the Chinese, unlike many western oil companies, are willing to accept service contracts at a very low per barrel oil fee without the promise of rights to future reserves. While private oil companies need to list oil reserves on their books to satisfy investors demanding growth, the Chinese do not have to answer to shareholders. The Chinese companies and their workers also win high marks for their technical expertise, as long as they are not working in complicated oil fields, like those in deep waters. They offer a lot of capital and a willingness to get in quickly and with a high appetite for risk, said Badhr Jafar, president of Crescent Petroleum, an independent oil and gas company based in the United Arab Emirates and a big gas producer.
Its pretty simple, said kevin jianjun tu, an expert on Chinese energy policies at care the carnegie endowment for International peace. China needs more energy and needs to diversify its sources. The Iraqi government needs the investment, and oil remains at the heart of its political and economic future. Currently opecs second largest oil producer after saudi Arabia, the Iraqi government depends on oil revenues to finance its military and social programs. Iraq estimates that its oil fields, pipelines and refineries need 30 billion in annual investments to reach production targets that will make it one of the worlds premier energy powers for decades to come. The revenue that investment would produce could either help pave over tensions between Kurds, Shiites and Sunnis, or worsen those tensions as competing camps fight over the spoils. But the kind of investment that is necessary has required contracting the services of foreign oil companies that are not always enthusiastic about Iraqs nationalistic, tightfisted terms or the unstable security situation that can put employees in danger. Some like statoil of Norway have left or curtailed verstopt their operations. But the Chinese, frequently as partners with other European companies like bp and Turkish Petroleum, have filled the vacuum. And they have been happy to focus on oil without interfering in other local issues. The Chinese are very simple people, said an Iraqi oil Ministry official who spoke on the condition of anonymity because he did not have permission to speak to the news media.
workers, has also shielded the world economy from a spike in oil prices resulting from Western sanctions on Iranian oil exports. And with the boom in American domestic oil production in new shale fields surpassing all expectations over the last four years, dependence on Middle eastern oil has declined, making access to the Iraqi fields less vital for the United States. At the same time, chinas interest in Iraq could also help stabilize the country as it faces a growing sectarian conflict. Our interest is the oil gets produced and Iraq makes money, so this is a big plus, said david Goldwyn, who was the State department coordinator for international energy affairs in the first Obama administration. Geopolitically it develops close links between China and Iraq, although China did not get into it for the politics. Now that they are there, they have a great stake in assuring the continuity of the regime that facilitates their investment. For China, iraq is one of several countries it increasingly relies on to keep its growing economy running. China recently became the worlds biggest oil importer, and with its consumption growing, it is investing heavily in oil and gas fields around the world — 12 billion worth in 2011, according to the United States Energy department. Over 50 percent of its oil imports come from the middle east, even as imports from Iran have been reduced in recent years.
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We geschoren dont have any problems with them, said Abdul Mahdi al-meedi, an Iraqi oil Ministry official who handles contracts with foreign oil companies. They are very cooperative. Theres a big difference, the Chinese companies are state companies, while Exxon or bp or Shell are different. China is now making aggressive moves to expand its role, as Iraq is increasingly at odds with oil companies that have cut separate deals with Iraqs semiautonomous Kurdish region. The kurds offer more generous terms than the central government, but Iraq and the United States consider such payot deals illegal. Late last year, the China national Petroleum Corporation bid for a 60 percent stake in the lucrative west Qurna i oil field, a stake that Exxon Mobil may be forced to divest because of its oil interests in Iraqi kurdistan. Exxon Mobil, however, has so far resisted pressure to sell, and in March the Chinese company said it would be interested in forming a partnership with the American company for the oil field.
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Enm- torvh her first major victory snd she earned it by climaaing a week of spectacular tennis.r-T.,viwtm final round in the mixed doubles! Miss e mcDonsId snd Brian Doherty of Toronto went Into the semi-final with a victory ever Norma hall and geors Leclerr. Miss Spencer of Toronto snd. With a hrictofT'owwrvBHrirr anond. Toronto, 0-t 0-2, (-1 also entered the aemi-ftnal the other pair of semi-finalists ere must. Ell of to-note, wbe dlipesld ef local opposition. 5 to i ' ',!!
Games to five-all, and had gam advantage until Martin broke through his service to lead 10-1 Masjin took no chance, here end with the help of two service ace won the game and set 11-1. I big and strapping Martin appeared, badhr tired at the start of the third aet but quickly recovered and ran It out S-2. It was his first win over BalnvUle fas the five times they have bet. Nunns, who is defending the title, was much too steady for his youthful opponent, roland Longtin, former teuebeo mtermediste title holder, and lead. 1 - although winning the first set with ease, nunns had to be at hat best m the second with Longtin- flashing sparkling tennis, nunns sbility to lather an early lead m thia aet bad much to do with his success, ss after the young. Nunns kept hii same at top speed In the last act, and quickly ran it out I to win the match, t-3, c-4, 4-3.
Bob l Murray, montreal, successfully de- fended hia junior title bv winning! Hia tilt With Bill piianlt. Hsmiltnn i th match was finished in record -tlrot. The scores being t-1. Murray flashed near-perfect tennis 4 diana pope, 14-yar-old Londcn Bermihhs. Rwwni remarsaoie lotto to :.1 vita i i i : :,.
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Baker, montreal policeman and Wilson won. Tint half. Two- bob cooper Cobourg high achool boy. Vent goal b bai aet for himaelf In i in the linal alter winning hia heat th triala. He soundly trouncea jimmy ball, of Winnipeg, and other, over th 400-metr route, brok. Ball re-ogntzed Canadian record of j-s eaconda by covering th dlatanca in at 1-5 and finUbed in a trol ball, who won th event ai me Ibnttoba triala lees than a week ago ; in th sam tiro as Wilson recorded today, mad a gallant.
Ia fourth place wben Martin is Winner over rainville In Toronto Play big Upset in Semi-finals Eastern Canada tour- "ney nunns Defeats i xiongtm ' canadian Press by direct Wire. July 11 Two of Canada's outstanding racquet wtelders clash her tomorrow. Toronto, and Walter Martin, toronto and Begin (tar, mfletrng to the Esstarn Canada singles tUas. Th pair, both of whom were members of Canada's davis Cup aquad thia year, eliminated strong Montreal opponent, to enter the final stage.Men's single provided the high spots today with Martin upsetting the dope In startling fashion when he whipped Marcel rainville, diminutive. XJsvis Cup player, in straight sets. Off to slow start, the wiry mont-realer 'dropped the first set to Msrun t-2. Trailing In the second 5-2. He made gallant comeback to brine.
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U j-won lha 100 metres eent in 19 2- wcondt, the world'f record, and as fast a any man has careened over the daah distance with the exception of Parev williams, vancouver's riouhle t Olympic champion whose 10 3-10 see- ; onds' time has yet. Fact boosird Canada Olympic Hock a v, wt for th- vear as to a new. Level for ino ear as they uttUjjj-J "v'vem1' canadian Olympic track ana iififl -w wnr. JrWnVlow reuma and hard to the fi-f. Pearson outclassed every sprint- 1 hln two heata and Ihe final. I edmonton' treat dash duo, buster - ' sxown and Harold Wright, finiahed I hurdle. Being caught lnl5 behandeling 2-5 -firuu onda-the canadian Olympic run-Brnwn takirut aacond place 1 "Urd- The cobourg ace, who runa for A dUunet menace to the world, j rquetl. Ran away from runner, at either 400 or M0 metres,.
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The Ottawa journal from Ottawa, on July 16, 1932 page 22 m, get access to this page with a free trial. Show, hide, page 22 article text (OCR) 1 i saturday, july. 122 Bert pearson Equals World's Record for 100 Metre dash the ottawa evening journal young Hamilton Flash Outclasses Fine field Shares Honors For First day of Olympic Trials With Alex Wilson, winner in 400 Metre event Cliff Bricker Shatters brulee Record. Never in oanner oi "in. Yards in front of Ball at the.Windsor. " Hart, of Montreal, fifth - nr- - th. Canadian Press Statf vtrller. A couple of tow-hcd with flying ".".u. Wry showine by trie wei(thtmn.
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The depth of Chinas commitment here is evident in details large and small. In the desert near the Iranian border, China recently built its own airport to ferry workers to Iraqs southern oil fields, and there are plans to begin direct flights from beijing and Shanghai to baghdad soon. In fancy hotels in the port city of Basra, chinese executives impress their hosts not just by speaking Arabic, but Iraqi-accented Arabic. Notably, what the Chinese are not doing is complaining. Unlike the executives of Western oil giants like exxon Mobil, the Chinese happily accept the strict terms of Iraqs oil contracts, which yield only minimal profits. China is more interested in energy egel to fuel its economy than profits to enrich its oil giants. Chinese companies do not have to answer to shareholders, pay dividends or even generate profits. They are tools of beijings foreign policy of securing a supply of energy for its increasingly prosperous and energy hungry population.