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China’s oil risks are limited despite Iraq crisis

The country holds a large stake in Iraqi crude, but there is little immediate danger

Since Iraq’s post-war oil boom, China has emerged as the largest buyer of Iraqi crude and its companies are some of the most significant investors in Iraq’s oil patch. China imports around 1.5 million barrels a day (b/d) of crude from Iraq, about half of the country’s exports, and its state-run companies own stakes in some of Iraq’s largest oilfields. The pace and ease with which Islamic State in Iraq and al-Sham (Isis) militants have swept through the Sunni regions of Iraq, raising the prospects of a renewed civil war in the country, will have Beijing’s policymakers and oil executives worried. But the risks to China in the crisis are not as high as they may appear on first glance. In spit

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