Now China is quietly developing another strong oil axis: Beijing-Baghdad. Fatih Birol, chief economist at the International Energy Agency, calls it the “B&B” link, saying it involves both imports of crude oil and direct investments. In effect, China is replicating in Iraq what it has done in several African nations.
The “B&B” oil link would not only be key for the oil market, but could also force a bigger political and military involvement of China in Iraq and the broader Middle East. The Beijing-Baghdad oil axis – FT.com.