Iran, China's Sinopec sign oil field deal

[maddezmom]

Source: Reuters

TEHRAN (Reuters) - Iran signed a contract with China's Sinopec on Sunday for the development of the country's huge Yadavaran oil field, the kind of energy deal the United States has been trying to prevent.

"Now Sinopec will invest around $2 billion in Iran for the development of Yadavaran," Iranian Oil Minister Gholamhossein Nozari told Reuters after the signing ceremony. "Implementation of the contract will start immediately."

Sinopec group agreed in 2004 to take the lead in developing Yadavaran field and to buy 10 million tons of liquefied natural gas (LNG) a year for 25 years. But talks to finalize the contract have been protracted, as in other Iranian energy deals.

Chinese officials have said tough commercial negotiations, not a threat of more U.N. sanctions on Iran because of its disputed nuclear plans, had delayed the agreement

Read more: http://news.yahoo.com/s/nm/20071209/wl_nm/iran_china_oil_dc

[acmavm]

1. Russia and China both have oil deals with Iran. Makes an interesting

scenario if we bomb Iran, doesn't it? I mean, what will Russia and China do?

[Supersedeas]

2. the Left-behind Bandwagoners know exactly what to do to get the thing started