Iraq in talks to build oil storage facilities in China, Pakistan: minister

Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China. (Reuters)

SULAIMANI (ESTA) — Iraqi oil minister said on Sunday the country is in advanced talks with state-run Chinese companies to discuss building crude oil storage facilities in China, according to Reuters.

Minister Ihsan Abdul Jabbar told Reuters by telephone that the attempt was as part of a plan to boost oil sales to Asia.

“Iraq is also discussing plans proposed by Pakistan for building crude oil storage facilities,” Reuters quoted Abdul Jabbar as saying.

The Iraqi oil ministry has further plans to build storage facilities in some other states to “serve Iraq’s interests in marketing its oil”, he said.

Separately, Shafaaq News cited the minister as saying that the ministry was in talks with the Pakistani government on exports of Basra oil to Pakistan.

Reuters reported last month that Iraq’s oil exports to China in 2020 rose 16.1% to 60.12 million tons in 2020, making it China’s third largest oil supplier.

Iraq was the top oil supplier to India in 2020 and a reduction in long-term Basra crude supplies could erode Baghdad’s market share in the world’s third largest oil importer and consumer.

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