Economic expert Nabil Al-Marsoumi said on Saturday that Iraq’s 2027 budget includes an additional 25,000 barrels of crude oil per day for the Iraqi-Chinese agreement. The increase is intended to help cover Iraq’s financial obligations under the agreement, which are backed by sovereign guarantees.
Al-Marsoumi told dinaropinions.com that the additional volume will bring the oil allocated to the agreement to 175,000 barrels per day. He estimated that this would be worth around $3.6 billion during 2027 and would help fund several infrastructure and strategic projects.
He also noted that the 2027 budget allocates $450 million for the Basra seawater desalination project. The project has a total estimated cost of $4.412 billion.