January 3 Iraq finalized a five-year oil export deal with an unnamed Chinese company. The first year the business will pre-pay an estimated $2 billion for roughly four million barrels of petroleum a month. The firm is likely Zhen Hua Oil Company that was mentioned in December. This was done to help the government out of its economic crisis. Currently Baghdad doesn’t have money to pay its basic bills like the salaries and pensions of public workers.
