China boosts investment in Iran's energy

In ‎2009, Iran accounted for ‎‏11‏‎ percent of China's oil imports,
ranking ‎third among China's main oil suppliers after Angola
and Saudi Arabia


Source: Press TV
http://www.presstv.ir/detail.aspx?id=136850§ionid=351020103


Chinese companies have invested around $40 billion in different upstream and downstream projects in Iran's oil and gas sector, an Iranian oil official says.

"Chinese companies have invested about $29 billion in Iran's upstream oil and gas sector and another $10 billion in the country's downstream energy sector, including gas, petrochemical and refinery construction projects," Iran's Deputy Oil Minister in International Affairs Hossein noghrehkar Shirazi said in an interview with Mehr news agency.

He added that the two countries are to start a new round of talks on developing bilateral oil trade and exchange.

Another Iranian Deputy Oil Minister Alireza Zeighami said earlier in July that Chinese companies have offered to finance some of the country's oil refinery development and gasoline production projects.

"Chinese companies are currently involved in building the Arak oil refinery; we intend to expand our cooperation with different Chinese firms for other oil refinery projects in Iran," Zeighami said.

Chinese companies are expanding their presence in Iran's oil refinery sector.

Last year, Chinese refiner Sinopec signed a memorandum of understanding with the National Iranian Oil Refining and Distribution Company to invest $6.5 billion for building oil refineries in Iran.

Iran, the world's fifth-largest oil producer, plans to build seven new refineries with a total investment of $23 billion.

A US official said Thursday that Washington is worried that Iran continues to attract investment from China despite a new round of UN Security Council sanctions imposed on Tehran.

Chinese companies were "aggressive" in investing in Iran's oil and gas fields, Joseph Christoff, head of the Government Accountability Office's international affairs and trade department, told the House Oversight and Government Reform Committee.

Christoff said international and unilateral sanctions were "not changing their (the Chinese) behavior" toward Iran.

Addressing the same panel, another official said that the US will press China to abide by international sanctions on Iran.

"China is of concern to us," AFP quoted Robert Einhorn, special adviser for nonproliferation and arms control at the State Department, as saying on Thursday. "We need for them to enforce the Security Council resolution," he said.

China investment in Iran worries US

Source: Press TV
http://www.presstv.ir/detail.aspx?id=136724§ionid=351020101


Washington is worried that Iran continues to attract investment from China despite a new round of UN Security Council sanctions imposed on Tehran, a US official says.

Chinese companies were "aggressive" in investing in Iran's oil and gas fields, Joseph Christoff, head of the Government Accountability Office's international affairs and trade department, told the House Oversight and Government Reform Committee on Thursday.

Christoff says international and unilateral sanctions were "not changing their (the Chinese) behavior" toward Iran.

Addressing the same panel, another official said that the US will press China to abide by international sanctions on Iran.

"China is of concern to us," AFP quoted Robert Einhorn, special adviser for nonproliferation and arms control at the State Department, as saying on Thursday. "We need for them to enforce the Security Council resolution," he said.

Beijing should not "backfill" by doing business with Tehran while other countries are "distancing themselves from Iran," Einhorn said.

The US and its Western allies accuse Iran of seeking a military nuclear program. Tehran rejects the charges, stressing that as a signatory of the Nuclear Non-Proliferation Treaty it will not forgo its right to peaceful nuclear technology.

The UN Security Council adopted a US-drafted sanctions resolution on June 9. Ever since the US, European Union, Australia, and Canada have adopted unilateral sanctions against Iran.

However, China and Russia, two permanent members of the UNSC, as well as many other countries say they would not abide by the unilateral sanctions.

China renews call for diplomacy on Iran

Source: PressTV
http://www.presstv.ir/detail.aspx?id=127037§ionid=351020104


China says a draft UN Security Council resolution against Iran does not mean the end of diplomatic efforts to resolve the dispute over the Islamic Republic's nuclear program.

"The circulation of the draft resolution at the Security Council does not mean that the door for the diplomatic efforts has been closed," Li Baodong, China's permanent representative to the UN, said on Wednesday.

The five permanent members of the UN Security Council (the United States, Russia, Britain, France, and China) and Germany began discussing the draft resolution on Wednesday, RIA Novosti reported.

"We have repeatedly stressed that even though the six countries launched the discussion of sanctions against Iran, diplomatic efforts should not be halted," Li said.

"Countries that maintain regular, legitimate economic and trade relations with Iran should not be punished due to Iran's nuclear issue," he added.

The draft resolution was introduced by the US on Tuesday only one day after Iran, Turkey, and Brazil signed a declaration in Tehran that names Turkey as the site of a nuclear fuel swap in which Tehran would exchange its low-enriched uranium for 20 percent enriched nuclear fuel for the Tehran research reactor, which produces radioisotopes for cancer treatment.

"We welcome and attach importance to the agreement that Iran signed with Brazil and Turkey, and this is a positive step forward in the right direction," the Chinese envoy said.