Iraq thinks of increasing oil supplies to China to fund additional projects

Baghdad (IraqiNews.com) – A senior Iraqi official revealed that Iraq is thinking of expanding its crude oil supply to China by 50 percent as part of their historic oil-for-project arrangement to encourage Chinese businesses to embark on more projects in the country.

Iraq signed a 20-year deal in 2019 to provide Chinese companies with 100,000 barrels per day (bpd) of crude oil in exchange for supporting projects in Iraq.

Mazhar Mohammed Saleh, the finance advisor to Iraq’s Prime Minister, said that the Iraqi government is thinking of…