Zhongman Petroleum announces nine rig crews in Iraq remain idle, crude sales at Wensu oilfield decline

GeopoliticsCommodity
โดย CLS·Read original
Summary · why it matters

Zhongman Petroleum has issued an announcement stating that due to geopolitical conflicts in the Middle East, multiple rig crews in its Iraq operations remain in a standby state. As of the announcement date, the company has deployed a total of 14 rig crews in the Iraqi market, of which nine are still on standby, causing a certain adverse impact on the drilling and completion engineering segment. Meanwhile, crude oil sales from the company's Wensu oilfield have declined compared to the same period last year. The company's stock experienced abnormal trading volatility, with the cumulative deviation of the closing price increase exceeding 20 percent over two consecutive trading days on July 22 and July 23, 2026. Apart from the above, the company's other production and operating activities are normal, with no major adjustments in the market environment or industry policies, and internal production and operations remain stable.

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