The Chinese agreement returns to the fore .. How will it save Iraq’s “gold bullion” from the collapse of oil?
10:02 - 04/30/2020
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Adviser to the Prime Minister Abdel-Hussein Al-Hanin confirmed Thursday that the [You must be registered and logged in to see this link.] China agreement was carefully designed to protect the country from the tremors of the oil markets, noting that the experience could be expanded to include other countries.
Al-Hanin said in an article seen by (The Information), "The [You must be registered and logged in to see this link.] agreement with China was carefully designed to constitute a real protection for the country from these tremors in the market, or at least it would have guaranteed a steady buyer of oil wealth in exchange for projects after it became clear that [You must be registered and logged in to see this link.] in the last days is looking for Buyers did not find. ”
He added: "I can say with confidence after the storm of deformation and counterfeiting against this agreement subsided after some thought that they succeeded in stopping it or at least postponing it and postponing the projects related to it. I say that the agreement was an advanced economic reading of the oil market. And an attempt to avoid betting on an extremely volatile market. ”
He explained that "Chinese companies will enter into competitive rounds on Iraqi projects within the market standards, so that [You must be registered and logged in to see this link.] chooses the best specifications, the most appropriate prices and the highest technology, and the matter will be available to Western companies as well if it requires the addition of high and advanced technology."
Al Hanin pointed out that “the financial framework with China is a source of smooth financing, in exchange for 100,000 barrels per day. Where oil is formed in a similar way (gold ingot), which makes Chinese companies and their high-tech partners eager to start their business in [You must be registered and logged in to see this link.] without fear of any political or economic fluctuations.
The advisor to the Prime Minister emphasized: “In short, we were able to guarantee a ready and guaranteed buyer of oil and that the experience of the collapse of the current oil prices from which no one was spared only from Mexico (from which some countries were previously ridiculed before the current collapse of oil prices),” noting that “Mexico sold Its oil at a fixed price was less than the market price in the days of high prices while today it is considered an imaginary price in favor of Mexico compared to the current prices, this experience should teach us a useful and important lesson. ” Ended / 25