China Rushes to Complete $100B Deal With Iran

and people were talking about a war with Iran....

SHANGHAI, Feb. 17 -- China is hastening to complete a deal worth as much as $100 billion that would allow a Chinese state-owned energy firm to take a leading role in developing a vast oil field in Iran, complicating the Bush administration's efforts to isolate the Middle Eastern nation and roll back its nuclear development plans, according to published reports.

The completion of the agreement would advance China's global quest for new stocks of energy. It could also undermine U.S. and European initiatives to halt Tehran's nuclear plans, muddling Beijing's relations with outside powers.

Caijing, a respected financial magazine based in Beijing, reported on its Web site Thursday that a Chinese delegation comprised of officials from the National Development and Reform Commission -- a top economic policy body -- intends to visit Iran as early as next month to conclude an agreement. The deal would clear China Petrochemical Corp., also known as Sinopec, to develop Iran's Yadavaran oil field.

Beijing and Tehran are attempting to swiftly conclude a deal in the next few weeks, ahead of the possible imposition of international sanctions against Iran, according to a report published in Friday's editions of the Wall Street Journal. The report relied upon unnamed Iranian government officials. Sanctions could entangle Chinese investments inside the country.


www.washingtonpost.com...

[edit on 17-2-2006 by Bozorgh]

That was one of the same issue in pre-invasion of Iraq, Saddam was making deals with France, Germany and Russia to have some private firms to dig for oil.

None was American base.

I guess China made sure everybody knows they are spending billions on a deal with Iran.

So the chances to invade Iran is going away from Bush and his oil friends hands.

I guess they will have to settler with Iraq oil now.

In my opinon this will not save Iran, While China is very powerful in world negotiation they are not a super power yet!!!

I guess China is trying to get on the bad side of the U.S.

I can see it now the new axis: China and Iran....

Originally posted by kuhl
In my opinon this will not save Iran, While China is very powerful in world negotiation they are not a super power yet!!!

It be better for us to be with China and Russia instead of having a US puppet government!, you guys wouldn't even let us do any major oil eals with any country back then, things have changed and more economic deals with China will be done in the mere future.

Originally posted by omega1
I guess China is trying to get on the bad side of the U.S.

Don't be so hasty now, China is a very good investor when it comes to US economy.

Remember the next time you buy a something or shop at Wal-mart check for the labels.

US is blind when it comes to money, corporate power and profits.

That was one of the same issue in pre-invasion of Iraq, Saddam was making deals with France, Germany and Russia to have some private firms to dig for oil.

Private firms? You really have check out the Oil for food scandal. That just killed me Marge, private firms, good one.

So the chances to invade Iran is going away from Bush and his oil friends hands.
I guess they will have to settler with Iraq oil now.

Umm... since when did we want to invade Iran? Have you heard something new that would imply we want to invade Iran? Please Marge for the umpteenth time, enough with the hyped up speculation. Also, have you seen this Iraqi oil? I sure haven't, I’m still paying just under 3$ per gallon, seriously it time for you to admit this war wasn't over oil.

Originally posted by WestPoint23

Private firms?

You really have check out the Oil for food scandal. That just killed me Marge, private firms, good one.

Bingo!!!!!!!!

Umm... since when did we want to invade Iran?

Still in denial as the intentions of your war for oil happy president.

What do you think are the intentions of the oil happy Chinese are, Marg?

The bad thing about the axis powers being China and Iran, Is that the Allies, would be the United States and the United States, the world hates us. Alot. I don't think any countries would want in on it, China helps many countries, I recently had to write a possinion paper on Austrias possision with China, and doing research on Chinas economy with countries I was blown away. Theyre very rich and theyre very well connected with may powerful countries that would not to hurt tie between eachother, not only the fear of losing theyre trade with China countries wouldnt want to join in because of fear of terrorists cells like Al Qaeda...

Originally posted by andpau87
What do you think are the intentions of the oil happy Chinese are, Marg?

They are looking for equal opportunity to control oil markets that up to day fall on the US.

My motto is this one.

Who control the oil markets control the world

US is looking ahead of time and future oil energy needs US is the biggest consumer of oil, but China and India are following very closely.

Still in denial as the intentions of your war for oil happy president.

Yup same old line, despite the constant claim of the conspiracy masters the US as yet to invade Iran, and it probably never will in the near future. There is nothing to suggest that we are preparing to invade Iran, and claims otherwise are not based on fact, but simply a pre disposition that some have toward the US government.
Also, you still haven't answer my question, have you seen the Iraqi oil yet?

With that money, they can do a lot. Especially with US, and there buddy Israel, throwing threats at IRAN about invading and such they will get some hardcore security bases going on.

Edit: Crass remark.

[edit on 19-2-2006 by intrepid]

the United States imports most of its oil from Canada, not from the middle east.....so this whole concept that we are over their for oil is a crock.

Originally posted by beaburt
the United States imports most of its oil from Canada, not from the middle east.....so this whole concept that we are over their for oil is a crock.

The USA currently owes Canada $5 billion on soft lumber alone, I think there looking for other sources for oil now

Originally posted by marg6043
That was one of the same issue in pre-invasion of Iraq, Saddam was making deals with France, Germany and Russia to have some private firms to dig for oil.

None was American base.

I guess China made sure everybody knows they are spending billions on a deal with Iran.

So the chances to invade Iran is going away from Bush and his oil friends hands.

I guess they will have to settler with Iraq oil now.

Im just curious, is english your second language?

The war wasn't for barrels of oil, obviously, since production is at its lowest levels since the invasion.

The war WAS about opening a market for lucrative construction and oil services contracts worth many billions of dollars, while at the same time pushing increased spending on defense contracts worth many billions more.

"The war was about taking oil!" is a simplistic accusation.

No less so, "This war obviously was about freedom because it wasn't about oil!"

Bad logic, bad mojo.

China's deal with Iran won't forestall an attack. If history is any indication, the invasion will begin just before, or just after, the bourse.

Originally posted by beaburt
the United States imports most of its oil from Canada, not from the Middle East.....so this whole concept that we are over their for oil is a crock.

Let me explain something to you, the so call oil is not about you and me the consumer but the rights of US oil base companies to have the rights over the exploration, drilling and refining of oil found.

It is not in any mind to benefit any of us the consumer but the oil barons in America.

But for the control of oil markets in the middle east.

The company that is in Iraq preparing and repairing the oil fields is Halliburton and subsidiaries, the oil base companies fighting for the right to drill that oil are the well know oil companies that you are very well aware of here in the US.

Deals are on the table and waiting for the final approval by the Iraqi government.

The only set back is the fact that is opposition by Iraqi people and the Iraqi oil unions against the privatization of the oil industry in Iraq.

Once the oil is privatized it can then be awarded to oil companies to drill do to not bid contracts only US companies will have those rights.

Do you see any of these oil companies doing anything to ease the hardships of the American people when it comes to paying for oil at the pump?

No? Because their job is to make money and record profits.

The only reason that they have not gotten the Iraq yet is because the opposition is very strong, but it will not last for ever, the oil barons are getting very ansy.


Iraqi Oil Workers Fight Privatization and Occupation
www.democracynow.org.../06/13/146243


Iraqi oil privatization after 2005
www.ameinfo.com...

Rivals Say Halliburton Dominates Iraq Oil Work
www.truthout.org...

Now you see why China wants to hurry up and deal with Iran in rights to oil drilling.

If US starts dominating the markets with Iraqi oil then China would have something to fight back with.



[edit on 19-2-2006 by marg6043]

China ranks a distant #7 GDP to the US #1 GDP by a huuge margin, China isnt exactly an economic powerhouse. Also do you really believe that the US would allow China to control our vital oil interests..lol...not in a million years. China has enough problems with a 90% poverty rate and an average annualized salary of $ 6600 compared to the US $45,000. China has a long way to go.

1 World $55,500,000,000,000
2 United States $11,750,000,000,000
3 European Union $11,650,000,000,000
4 China $7,262,000,000,000
5 Japan $3,745,000,000,000
6 India $3,319,000,000,000
7 Germany $2,362,000,000,000
8 United Kingdom $1,782,000,000,000
9 France $1,737,000,000,000