China To Build Airport, Houses Under Oil-For-Projects Deal In Iraq

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Oil Price: Chinese firms are set to build an airport and 90,000 houses in Iraq as part of a 2019 agreement for crude supply in exchange for projects, an Iraqi official was quoted as saying.

Companies from China are expected to build an airport in Nasiriyah and 90,000 houses in Sadr City, in exchange for 100,000 barrels of Iraqi crude, Zawya quoted Sabah Abdul Lateef, an adviser to the Iraqi Prime Minister, as saying.

“And the sixth angel poured out his vial upon the great river Euphrates; and the water thereof was dried up, that the way of the kings of the east might be prepared.” KJV

“These projects will be carried out in line with the Iraq-China agreement after all legal issues that have faced the agreement have been resolved,” said Abdul Lateef, as quoted by Zawya.

Earlier this month, Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail said that Iraq had decided to award the contract for the construction of a new oil refinery to China’s state-owned engineering company CNCEC.

The 300,000 barrels per day (bpd) complex will be an integrated refining and petrochemicals complex on the southern Al Faw peninsula, Argus reported in the middle of July.

The new refinery will work exclusively for exports and will be fully financed by the Chinese government, according to the Iraqi oil minister Read More

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