Experts: China will need Iraqi oil until 2060

10/2/2020 17:26


{Baghdad_Where} The Prime Minister’s Advisor for Economic Affairs, Mazhar Muhammad Salih, confirmed on Monday that the experts ’estimates indicate that China will need Iraqi oil until the year 2060, while he pointed out that the Chinese agreement covers many areas.

Saleh said in a statement that "the agreement with the major Chinese companies includesmany fields, including dams, water, agriculture and infrastructure, and these companies will provide thousands of job opportunities for the Iraqis."
He explained, “Iraq and China signed the Memorandum of Understanding, as the Iraqi Ministry of Finance was the party signed by Iraq, the Chinese Warranty Agency on 11-5-2018, and the Cabinet approved this, and this agreement was followed by the signing of a supplement in exchange for the export of 100,000 Iraqi oil barrels. To China. ”

Saleh pointed out that "Iraqi oil exports to China amount to 22 percent, and China is the number one importer of oil from Iraq, so Iraq is a true partner to China," stressing that "China needs Iraqi oil until 2060, according to an expert assessment."