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Russia To Increase Investment in Iraqi Oil By Three fold

Russia intends to increase its investments in Iraqi oil by three-fold according to a report by Tass.

A report by Tass indicates the intention of Russia to triple its investments in Iraqi oil. This may be due to the recent development we cited days ago where China is cutting down on its importation of crude from Iraq and the Middle East.

The report states that investments in Iraq by companies such as Lukoil, Bashneft, and Gazprom Neft has exceeded $10 billion and that it might increase three-fold. The report quotes Russian politician Yury Fedorov as discussing such possible development to Iraqi Ambassador to Russia, Abdul-Rahman Al-Husseini.

 

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