{"id":393312,"date":"2021-01-04T12:06:37","date_gmt":"2021-01-04T06:36:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=393312"},"modified":"2021-01-04T12:31:39","modified_gmt":"2021-01-04T07:01:39","slug":"iraq-agrees-2-billion-prepayment-oil-supply-deal-with-chinese-company","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/iraq-agrees-2-billion-prepayment-oil-supply-deal-with-chinese-company\/","title":{"rendered":"Iraq agrees $2 billion prepayment oil supply deal with Chinese company"},"content":{"rendered":"<p>Iraq has agreed a multibillion-dollar oil-supply deal with a Chinese company, according to the Arab nation\u2019s official news agency.<\/p>\n<p>SOMO, which oversees Iraq\u2019s petroleum exports, picked a Chinese firm after receiving bids from several traders, INA reported, citing an interview with SOMO General Manager Alaa Al-Yasiri. While INA didn\u2019t name the company or specify if Prime Minister Mustafa al-Kadhimi had signed off on the deal, Bloomberg reported last month that ZhenHua Oil Co., a subsidiary of China\u2019s largest state-owned defense contractor, was the winner.<\/p>\n<p>SOMO offered to supply roughly 130,000 barrels a day of crude for five years, according to a letter it sent traders in November. It sought upfront payment for one year of supply, which at current prices would bring in more than $2 billion, according to Bloomberg calculations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iraq has agreed a multibillion-dollar oil-supply deal with a Chinese company, according to the Arab nation\u2019s official news agency. SOMO, which oversees Iraq\u2019s petroleum exports, picked a Chinese firm after receiving bids from several traders, INA reported, citing an interview with SOMO General Manager Alaa Al-Yasiri. While INA didn\u2019t name the company or specify if Prime Minister Mustafa al-Kadhimi had signed off on the deal, Bloomberg reported last month that ZhenHua Oil Co., a subsidiary of China\u2019s largest state-owned defense contractor, was the winner. SOMO offered to supply roughly 130,000 barrels a day of crude for five years, according to [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,183],"tags":[],"class_list":["post-393312","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/393312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=393312"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/393312\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=393312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=393312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=393312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}