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Iraq Uses Chinese Firm to Pay Service Bills
The Chinese "Anton" Group for Oil Field Services has begun marketing Iraqi oil under a new agreement with the Iraq Oil Marketing Company "SOMO," in a rare move aimed at supporting Iraq's oil sales and increasing cash flows. The first shipment of one million barrels of Basra heavy crude was loaded in late September 2026 and sold to one of the companies, helping Baghdad to settle payments to service providers and boosting oil revenue, which accounted for approximately 88% of total public revenue and 91% of exports in 2025. The agreement allows the company to market unspecified quantities of oil from fields such as Maysan and Zubair, opening up opportunities to increase its market share — an important step given the challenges faced by Iraq's oil sector due to regional tensions.
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