Iraq to revive oil deal with China
Iraq says it's going to revive a $1.2 billion oil deal with China that was canceled after the 2003 US-led invasion.
By Agencies |
BAGHDAD: Iraq says it's going to revive a $1.2 billion oil deal with China that was canceled after the 2003 US-led invasion.
The country's Oil Ministry says an initial agreement with China is expected to be signed at the end of August, to develop the billion-barrel Ahdab oil field south of Baghdad.
It would be the first Saddam Hussein-era oil deal to be revived. In 1997, Saddam's government signed a deal with the state-owned China National Petroleum Corp, despite UN sanctions.
Sunday's statement comes after a meeting between Iraqi Oil Minister Hussain al-Shahristani and China's ambassador to Baghdad. No further details were released.
The country's Oil Ministry says an initial agreement with China is expected to be signed at the end of August, to develop the billion-barrel Ahdab oil field south of Baghdad.
It would be the first Saddam Hussein-era oil deal to be revived. In 1997, Saddam's government signed a deal with the state-owned China National Petroleum Corp, despite UN sanctions.
Sunday's statement comes after a meeting between Iraqi Oil Minister Hussain al-Shahristani and China's ambassador to Baghdad. No further details were released.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
