Iran and China to meet for oil talks next week
Washington, 21 August (IranVNC)—The managing director of the National Iranian Oil Company [NIOC], Seifollah Jashn-saz, will travel to China on Monday to increase energy ties between the two countries, the news website of Iran’s Oil Ministry, SHANA, reports.
By: IranVNC
Published: Thursday, August 21, 2008
15:00GMT—11:00AM/EST
IRAN – CHINA – ENERGY
Washington, 21 August (IranVNC)—The managing director of the National Iranian Oil Company [NIOC], Seifollah Jashn-saz, will travel to China on Monday to increase energy ties between the two countries, the news website of Iran’s Oil Ministry, SHANA, reports.
Jashn-saz will hold talks with senior officials from China’s international oil companies, the report says.
“The main points of discussions with the Chinese side will be on technical cooperation, the increase in oil and gas recovery, the sale of LNG [Liquefied Natural Gas], and China’s presence in the South Pars field,” SHANA says.
Senior NIOC officials, including Hojjatollah Ghanimifard, the vice president for investment affairs, will accompany Jashn-saz during his trip, which was at the invitation of Chinese officials, the report adds.
Iran, which is the world’s fourth largest oil producer, is facing increasing international sanctions and pressure over its controversial nuclear program. United Nations and US sanctions are causing many Western nations and investors to look elsewhere for their energy needs.
France’s Total Oil, Royal Dutch Shell and Norway’s StatoilHydro have all limited or done away with their energy deals with the Islamic Republic.
But Iran has been able to find willing partners in Asia, especially in energy-hungry China.
According to SHANA, Iran and China have signed almost ten oil and gas deals in the last year. Oil and gas trade between the two sides has amounted to ten billion dollars in the last year, the report adds.
On Monday, Iran’s Central Bank announced that the country’s oil revenues for the last calendar year totaled 81 billion, the Kargozaran Newspaper reports.
Sources: SHANA news website, Kargozaran Newspaper
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