Iraqi
Oil Minister is eager to supply oil to China
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| David Nealis President Ceres Ltd. |
Iraqi
Oil Minister Abdul-Kareem al-Luaybi was quoted by Iraqi media as saying that his
country is ready to establish a long-term agreement with China to supply all of
China’s needs for crude oil. The Oil Minister said Iraq seeks to bolster its
oil ties with China and considers China to be a strategic partner. He also
stated that China imports more than 500,000 barrels per day from Iraq. Chinese
companies have been aggressively working with Iraq in extracting and bringing
to market crude oil. The oil minister did not state the exact number of
additional barrels per day that would be put on the market.
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