Beijing to invest $100b in Iran oil, gas sectors in 25 years

Tehran Times:

China has announced that its investment in Iran’s oil and gas industries in the next 25 years would touch 100 billion dollars, China Daily reported on Wednesday. READ MORE

According to the daily, the country’s oil companies had made huge investments throughout the world in the recent years.

“Based on a contract signed by two Chinese companies and Tehran in 2004, Iran will export more than 360 million tons of liquefied natural gas (LNG) to China,” said the daily.

It added China had also injected billions of dollars into the oil sector of the South America particularly in Venezuela, aiming to facilitate its oil imports from this zone.
Although China, due to its huge investments in these countries, may import oil at multiple prices, the country undoubtedly plans to guarantee its oil imports for long years, noted the paper.