Iraq has scrapped a $2 billion pre-paid oil supply agreement with China’s state-owned Zhenhua Oil Co. and sold the crude earmarked for the deal to other customers, as Baghdad seeks to take advantage of rising prices, a top oil official told S&P Global Platts. Iraq’s State Oil Marketing Organization earlier this year had selected Zhenhua …
The post Iraq fully cancels pre-paid oil deal with China’s Zhenhua, sells crude to other customers first appeared on Hellenic Shipping News Worldwide.
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