Iraq Signs $848 Million Oil Deal With China’s GeoJade Petroleum
With the goal of increasing output at the Tuba oilfield from 20,000 to 100,000 barrels per day, Iraq has inked a significant oil deal with Chinas GeoJ
With the goal of increasing output at the Tuba oilfield from 20,000 to 100,000 barrels per day, Iraq has inked a significant oil deal with Chinas GeoJade Petroleum. The deal represents a major advancement in Iraqs energy infrastructure development and includes the construction of a fertiliser facility, a petrochemical plant, and a refinery with a capacity of 200,000 barrels. By contributing $848 million to the South Basra integrated project, GeoJade will strengthen Chinas expanding influence in Iraqs oil industry. The agreement supports Iraqs goal of increasing its petroleum production, establishing it as a major participant in OPEC+ and fortifying its bonds with Beijing on the economic front.
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B2B Tech News | 1 months ago