Iraq seeks Chinese marketing tie-up

摘要

Iraq is in negotiations to form a crude marketing venture with Chinese state-controlled refiner Sinopec, bolstering already deepening supply ties. The proposed venture will focus on marketing Iraqi crude in China with a tieup between Sinopec trading arm Unipec and Iraqi marketing firm Somo. Further details are unavailable as the discussions have yet to conclude. Such tie-ups will be increasingly important to Mideast Gulf producers as they battle for market share in Asia-Pacific.