China and Iraq have signed a landmark three billion dollar deal to exploit oil in the Middle Eastern country.
According to a statement from the Iraqi Embassy in Beijing, the deal was signed late on Wednesday by Chinese officials and Iraqi Oil Minister Hussain al-Shahristani. The agreement revives a 1997 contract that granted China exploration rights to the Al-Ahdab oil field in the province of Wassit, just south of Baghdad. The statement said the revised terms of the deal increase the anticipated output Correspondent confirms Russian tanks in Gori ...
Beijing 'failing pollution test' ... from the billion-barrel field to 110,000 barrels per day from the originally planned 90,000 barrels per day. It says the contract is to run for 20 years after production begins three years from now.
(Deutsche Welle)
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