China, Iraq reach $3 bln oil service deal

[ckramer]

Source: nw

China and Iraq have signed a $3 billion deal revising an earlier agreement for China's biggest oil company to help develop the Ahdab oil field, an official at the Iraq's Oil Ministry said Thursday.

The deal, restoring a project canceled after the 2003 U.S.-led invasion of Iraq, was signed late Wednesday by Chinese officials and Iraqi Oil Minister Hussain al-Shahristani.

"The initial agreement has been signed, and we are waiting to see the approval of both governments," said Sarhad Fatah, a spokesman at the Iraqi Embassy in Beijing.

Fatah would not disclose the value of the deal, but an official at the Oil Ministry in Baghdad confirmed it would be worth $3 billion. He requested anonomity because the agreement hasn't been approved by the cabinet yet.



Read more: http://www.newsweek.com/id/155982

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Chinese are getting deals left and right while Americans busy figuring out who will be next president.

[AlphaCentauri]

1. Iraq or Chevron, Exxon, BP?

are the ones making the deals