Iraq to revive oil deal with China

By SINAN SALAHEDDIN, Associated Press Writer
Sun Aug 10, 3:26 PM ET

Iraq and China are set to revive a $1.2 billion oil deal that was canceled after the 2003 U.S.-led invasion, the Iraq's oil ministry said Sunday.

An initial agreement with China is expected to be signed at the end of August to develop the billion-barrel Ahdab oil field south of Baghdad, the ministry said in a statement.