On Current TV | August 27, 2008 | 0 comments

Iraq and China agree to $3 billion oil service deal

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Iraq and China have agreed the terms of a $3 billion oil service contract, Iraq's oil minister said on Wednesday, announcing the first major oil contract with a foreign firm since the fall of Saddam Hussein.

Energy-hungry China has beaten international oil majors to take the first opening since the U.S.-led invasion for work on the world's third-largest reserves.



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