According to John Calabrese of the Middle East Institute in Washington, after decades of strife, Iraq “badly needs international investment, and notably investment in energy sector infrastructure.”
With its enormous energy demands, China has stepped in to close the gap and is growing its involvement in Iraq as part of an “oil for building” contract for 2019.
According to prime ministerial adviser Muzhar Saleh, Beijing has emerged as one of the country’s major buyers of Iraqi petroleum, accounting for 44% of the country’s oil shipments in 2021.