Chinese Government Set to Help Bailout Iraq Government on Oil for Cash Deal

Posted on 12/09/2020

Iraq’s State Organization for Marketing of Oil (SOMO) awarded a five-year term crude supply tender that includes a US$ 2 billion prepayment period to China ZhenHua Oil Co., Ltd., according to six market participants. ZhenHua Oil is the trading arm of China’s largest defense contractor, China Ordnance Industries Group Corporation Limited (Norinco). China has been […]

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