Iraq’s State Oil Marketing Organization has signed an agreement with Chinese Petroleum Corporation, Taiwan’s state-run oil company, to supply 1.8 million barrels of oil to Taiwan in a six month period beginning July 1 and to run through December 31.
This averages over 1,000 barrels a day.
Previously China was unable to import oil from Iraq due partly to the fact that China had no diplomatic ties with Badhdad. This is a trial period with the Iraqi government to begin building a relationship that will be beneficial to both countries.