News and Events




Jan. 21, 2009 – The Company held the Annual Meeting 2008 with the presence of Chairman Zhi Yulin, Vice Chairman Wang Yitong, President Wu Zhuang and all other staff. The Company had fulfilled its 2008 target and increased both the sale proceeds and the net profits. In the coming 2009, the whole company will continue to strengthen its competitiveness and face up to challenges with confidence and endeavors. Jan. 19, 2009 – The Company entered into a long-term Purchase Contract of Basrah Light with Iraq’s State Oil Marketing Organization (SOMO). The execution of this contract will be significant in diversifying the Company’s first-hand crude oil supplying channels as well as building up a beneficiary publicity to the progress of the Ahdeb Field Project and the related work. The Company’s influence in the world oil market has also been further enhanced. Nov. 21-23, 2008 – Vice President Mr. Hai Jinhe and Chief Accountant Ms. Wang Yue attended the Asia Pacific Petroleum Conference (APPEC) in Singapore and held meetings respectively with delegates from ARAMCO, SONANGOL, Mercuria, Shell and other oil companies. Nov. 10, 2008 – Chairman Zhi Yulin, on behalf of Al-Waha Petroleum Co., signed on the Development and Production Service Contract Related to the Ahdeb Field, with the presence of H.E. Mr. Al-Shahristani, Iraqi Minister of Oil, H.E. Mr. Chang Yi, Chinese Ambassador to Iraq, Mr. Zhao Gang, President of NORINCO, and Mr. Jiang Jiemin, President of CNPC Group. The Ahdeb Field has 1 billion barrels of original oil in place. Al-Waha Co. will invest a total of US$3 billion in 23 years, and in three years the daily production will reach 25,000 barrels. It is the first contract that the Iraqi government has formally signed with international oil companies after the Iraqi War. Oct. 27-30, 2008 – Chairman Zhi Yulin and President Wu Zhuang paid a visit to Yanchang Petroleum Group in Shanxi Province and made an investigation of this large and comprehensive petroleum and petrochemical enterprise. The heads of the two companies found potentials of cooperation in an extensive scale from upstream to downstream.
Oct. 8, 2008 – Chairman Zhi Yulin and President Wu Zhuang met the delegation from Mercuria headed by CEO Mr. Donald and expressed their hopes to further cooperate in the construction of a 5 million T/P refinery, a dock and feedstock. May 9, 2008 – A supply agreement was signed with Panjin North Asphalt Co.. The first 100, 000 tons of crude oil in mid June will mark a breakthrough in direct supply to our subsidiary petrochemical plants and linking up the Group’s petroleum industry from the upstream to the downstream. Sept. 30, 2008 – Chairman Zhi Yulin signed on the Share Purchase Agreement with the seller in Almanty, Kazakhstan. After the completion of the deal, ZhenHua Oil will take 75% interests of the K&B Oilfield and operate the field as a controlling stakeholder. page 1 2 3