The financial adviser to the Prime Minister, Mudher Mohammed Saleh, said Wednesday that China is fully dependent on Iraqi crude oil, indicating that Chinese companies are ready to develop the infrastructure of Iraq, especially in the sectors of agriculture, housing, energy and rail.
“China is totally dependent on Iraqi oil and demand for crude oil will rise from 53 percent of its total energy consumption to 64 percent by 2050,” Saleh said in a press interview. “China refineries are determined on three types of oil at the forefront Iraqi oil, then Iran and Saudi Arabia. ”
He explained that “Iraq will issue 67% of its oil to Asia, and China holds the largest share of that ratio,” stressing that “the introduction of the principle of oil for reconstruction with the Chinese state when the visit of the Prime Minister to China in December 2015 and there are signed memoranda of understanding To build development relations in this regard. ”
He noted that “Chinese companies have full readiness to work in Iraq’s environment and develop the infrastructure of our country and looks forward to the reconstruction of the agricultural sector, housing, energy, railways and others with a competitive basis and international standards.”