Iraq to build oil depots in Pakistan and China

Shafaq News/ Oil Minister, Ihssan Abdul-Jabbar confirmed on Sunday Iraq's endeavors to build oil depots in Pakistan and China, indicating that 70% of Iraq's oil exports go to the east.

Abdul-Jabbar said in an interview with Shafaq News Agency, "Iraq seeks to build oil depots in Pakistan and China," noting, "there is a real discussion with a Chinese "Private" Company and other Chinese government companies over building jointly managed oil depots."

"Discussions with China have reached very advanced stages, and the economic model is being studied," he said.

Abdul-Jabbar added, "Pakistan is an emerging market for Iraq, and it was not a target," indicating, "there is a discussion with the Pakistani government on the issue of Basra oil entering the Pakistani market."

He continued, "70% of Iraq's oil exports go to the East. 90% of these exports go to the Chinese and Indian markets."