China, Iraq to Work on Energy Cooperation

China and Iraq On Tuesday signed a memorandum of understanding (MoU) pertaining to energy partnership.

According to Xinhua Finance Agency, the memorandum envisages a long-term, stable energy partnership between the two countries.

They agreed a long-term and comprehensive strategic partnership on energy cooperation, especially in the oil and gas sector, would be established, the two parties said. Cooperation would be in the areas of crude oil trade, oil-gas exploration and development, oilfield engineering service technology, construction of storage and transportation facilities, chemical refining engineering, and energy equipment.

During their talks, the two prime ministers reached a consensus on using China-made equipment to support oil-gas exploitation in Iraq, Xinhua Finance reported quoting Vice Foreign Minister Zhang Ming.

The two sides agreed to improve pragmatic cooperation within the framework of the "Belt and Road" initiative to achieve mutual benefit.