19 June 2006 - 13:27
  • News ID: 85337

TEHRAN - Chinese oil giant Sinopec will on Tuesday sign a deal to explore Iran's onshore Garmsar block for oil and gas, Iranian state radio reported on Monday.

Iran tendered 16 blocks for exploration in 2004 but international companies complained Tehran was experimenting with a new contract type outside of the oil heartlands. In 2005, China imported 300,000 barrels per day of Iranian crude. It is also looking to take delivery of Iranian liquefied natural gas (LNG) due to hit markets in 2009. Since 2001 Sinopec has built a huge oil terminal at the Caspian Sea port of Neka and has upgraded Iranian refineries at Tehran, Rey and Tabriz. It is seeking an upstream stake in the giant Yadavaran field in southwest Iran. China opposes U.N. economic sanctions on Iran over fears Tehran could be seeking nuclear warheads. Tehran denies the charge. PIN/REUTERS
News ID 85337

Your Comment

You are replying to: .
0 + 0 =