Sinochem to bid for Iraqi oil assets

Sinochem Group, China's fourth-largest oil company, said it has got permission to participate in Iraq's second auction of oil and gas fields in November.

Sinochem is one of the 45 companies qualified to participate in the second bidding round, a company statement said on Friday without specifying which fields it was interested in.

With this, the company now has overseas exploration and production rights in 14 oil and gas blocks in six countries.