Iraq Considers A String Of Massive Oil Deals With China

[Elderberry]

OILPRICE By Simon Watkins - Jun 24, 2020

•   Iran is pressing Iraq to expand its already game-changing oil and gas infrastructure deal with China.

•   Tehran is looking to include Iraq in the Sino-Russian power bloc in order to expand its influence in the oil-rich country.

•   Chinese money, equipment and technology should, Baghdad and Tehran think, allow Iraq to gradually increase its oil production to the 7 million bpd targeted by end-2022.

With the Western-leaning, reformist agenda of Iran President, Hassan Rouhani, neutered by the unilateral withdrawal of the U.S. from the Joint Comprehensive Plan of Action in 2018, hardline groups led by the Islamic Revolutionary Guards Corps (IRGC) have been able to gradually recoup all of their previous power and influence, and more. The additional part has been a definitive pivot away from any notions of engagement with the West and Iran seeking to push Iraq firmly into the Sino-Russian power bloc. This was highlighted again by last week’s announcement that Iraq’s Parliamentary and Economic Investment Committee is to re-open the file of the Sino-Iraq agreement agreed last September.  This arrangement - agreed during the visit by Iraq’s then-Prime Minister Adel Abdul Mahdi to Beijing with the purpose of expanding China’s then US$20 billion of investment in Iraq in addition to the US$30 billion annual trade between the two countries - was already broad and deep enough to be a regional game-changer. It comprised eight major memoranda of understanding that incorporated virtually unlimited oil and gas sector exploration and development, the provision of materials, technology and expertise, and an extensive infrastructure build-out over the next 20 years. This is in line with China’s ‘One Belt, One Road’ (OBOR) multi-layered, multi-generational programme. It tangibly began in earnest last October, with the announcement from Iraq’s Finance Ministry that the country had started a programme to export 100,000 barrels per day (bpd) of crude oil to China as part of the deal. Chinese firms Zhenhua Oil and Sinochem were the importers of the Iraqi barrels involved, and all of the trade financing surrounding these exports was done by the China Export and Credit Insurance Corporation, OilPrice.com understands.

More: https://oilprice.com/Energy/Energy-General/Iraq-Considers-A-String-Of-Massive-Oil-Deals-With-China.html

[catfish1957]

4500 KIA nets this result?  What a freaking disaster....   Those brave soldiers died, and the defended does business with our enemy?

Disgusting. 

[EdinVA]

4500 KIA nets this result?  What a freaking disaster....   Those brave soldiers died, and the defended does business with our enemy?

Disgusting.

This has been going on for 20 years.... example

Afghanistan Will Not Award Mining Contracts to U.S.-Backed Companies Despite China Deal
Meanwhile, the Kabul government has reached a 30-year, $3 billion deal with a state-owned Chinese company to mine Afghanistan’s copper deposits, a component of the war-ravaged countries mineral resources valued by the U.S. government at about $1 trillion.
The United States has spent at least $121 billion on Afghan reconstruction efforts alone, funding the country’s government, among other sectors of the country.
Nevertheless, Afghanistan has refused to award mining contracts to international companies supported by the Pentagon’s Task Force for Business and Stability Operations (TFBSO), including some contractors based in the United States.https://www.breitbart.com/asia/2018/01/10/afghanistan-not-award-mining-contracts-u-s-backed-companies-china-deal/

We are being played.... again

[sneakypete]

OILPRICE By Simon Watkins - Jun 24, 2020

 @Elderberry

•   Chinese money, equipment and technology should, Baghdad and Tehran think, allow Iraq to gradually increase its oil production to the 7 million bpd targeted by end-2022.

Chinese technology????? How useful is bamboo in oil production?

 
 

[catfish1957]

Chinese technology????? How useful is bamboo in oil production?

In any case, this slap in the face to the families of the fallen soldiers should send a precise clear message......

No more  nation building boondoggle disasters.  Let's stay energy independant and let the EU police that hell hole known as the Middle East. 

[sneakypete]

In any case, this slap in the face to the families of the fallen soldiers should send a precise clear message......

No more  nation building boondoggle disasters.  Let's stay energy independant and let the EU police that hell hole known as the Middle East.

@catfish1957

Works for me as an alternate plan,but MY plan would be to seal the whole area off,and then make mass air drops of automatic weapons and ammo,and let them kill each other off to their hearts content.

[catfish1957]

@catfish1957

Works for me as an alternate plan,but MY plan would be to seal the whole area off,and then make mass air drops of automatic weapons and ammo,and let them kill each other off to their hearts content.

@sneakypete

Before GHWB and W muddied the water, that's pretty much what we had in Iran v. Iraq. 

[sneakypete]

@sneakypete

Before GHWB and W muddied the water, that's pretty much what we had in Iran v. Iraq.

@catfish1957

Exactly! There was a working future peace plan going on at the time,and that cretin ruined it. Hell,we were even making money selling them weapons to kill each other with! Does it EVER get any better than that?

[GtHawk]

In any case, this slap in the face to the families of the fallen soldiers should send a precise clear message......

No more  nation building boondoggle disasters.  Let's stay energy independant and let the EU police that hell hole known as the Middle East.

Ok, but not until right after they pay back the US taxpayers for everything and pay every one of our soldiers that fought there one million dollars per tour or their families and 50 million to every soldier that lost a limb/limbs or their families and 100 million to the families of every soldier KIA. We should sieze/freeze any assets of these bastards until that happens.