China invests $40 bln in Iran oil, gas: minister
AP
31-Jul-2010 (one comment)

TEHRAN — Iran's main economic partner China has invested around 40 billion dollars in the Islamic republic's oil and gas sector, a senior Iranian official said on Saturday.

Deputy Oil Minister Hossein Noqrehkar Shirazi also said that Tehran's oil exports to China fell by 30 percent in the first six months of 2010 compared with the corresponding period last year.

"The volume (of Chinese investment) in upstream projects is 29 billion dollars," Noqrehkar Shirazi told Mehr news agency, adding that Beijing had signed contracts worth another 10 billion dollars in petrochemicals, refineries and oil and gas pipeline projects.

He said China has also put forward proposals to participate in building seven new refineries in Iran.

Iran, OPEC's second largest oil exporter, has a dilapidated refining sector, forcing it to import petroleum products such as gasoline to meet domestic needs.

Noqrehkar Shirazi said that Chinese imports of Iranian oil fell in the first half of the year.

"Although Iran is still among top 10 oil exporters to China, it is the only country which in the first six months of 2010 has seen its exports to China falling," he said.

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Balatarin
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Fair

more ripping off of Iran by China

by Fair on Sat Jul 31, 2010 01:10 PM PDT

Buy crap for exorbitant prices- paid for by the people of Iran.  What a great deal!  I guess this is what they call "independence"

This is the regime that brags about building everything from fighter planes to space vehicles to rockets all on their own.  Why do they need to pay China 40 bn to get oil from under their lazy a**?

Because they are a bunch of incompetent, countryless stateless Hezbollah terrorists who are robbing the innocent people of Iran. 

"Independence" - brought to you by your friendly neighborhood supreme leader.  Don't leave home without obeying him, you are monkeys and must copy him!


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