Posted by: Lister | December 12, 2007

China and Iran sign oil deal

Worth 2 billion dollars.
The story’s in al-Jazeera. It’s easy enough to predict who’s happy and who’s upset, so I’ll just quote this bit:

According to Iranian estimates, the Yadavaran field holds 3.2bn barrels of recoverable crude oil and 2.7trn cubic feet of recoverable natural gas.

In recent years China has been snapping up energy deals around the world as it seeks to ensure supplies of fuel for its booming economy. Iran is already China’s third largest supplier of crude oil.

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