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China and Iraq Sign Landmark Oil for Construction Deal

Iraq will provide  100,000 barrels per day (bpd) of oil in exchange for work which will provide essential infrastructure projects  Chinese firms

Iraq, one of the world's top OPEC producers announced a landmark agreement with China: it will provide  100,000 barrels per day (bpd) of oil in exchange for work which will provide essential infrastructure projects  Chinese firms. 

The "oil-for-construction" agreement which was agreed upon by Iraqi Prime Minister Adil Abdul Mahdi outlines assistance with rebuilding roads, homes, ports, schools, hospitals, water dams, energy, transport and a multitude of related projects, "Iraq is counting on this oil-for-construction agreement to rebuild its infrastructure and speed up the development process."


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