Home / World / Middle East

Iraq seeks to boost oil ties with China

Xinhua | Updated: 2013-04-04 21:42

BAGHDAD  -- Iraq is seeking to bolster its ties with China in the field of oil industry, local media reported Thursday.

"The Chinese companies are considered as strategic partners to Iraq in aspects of extracting and marketing crude oil through their active participation to develop the Iraqi oilfields," the state-run Iraqia channel quoted Iraqi Oil Minister Abdul-Kareem al- Luaybi as saying.

Iraq has signed several oil deals with Chinese companies.

"Iraq seeks to conclude a long-term agreement with China to supply it with all its needs of Iraqi crude oil," Luaybi said.

"China is one of the major oil customers for Iraq as it imports more than 500,000 barrels per day (bpd) from Iraq," he added.

Observers say that nearly a third of the future oil production in Iraq is expected to come from fields that were either directly owned or co-led by Chinese companies in several major Iraqi oil fields.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349