Thursday, February 23, 2006

Iran & China aim to sign Multibillion deal

Kyodo News International, Tokyo

Iran and China aim to sign a multibillion-dollar deal at an early date to develop the Yadavaran oil field in southwestern Iran, the Wall Street Journal reported Friday in its online edition.

The deal involving the oil field, estimated to be able to produce a maximum 300,000 barrels of oil a day, might thwart efforts by the administration of U.S. President George W. Bush to isolate Iran, the business daily said.

Iran recently resumed uranium enrichment on the pretext of developing nuclear power plants.

The deal, if concluded, would be the first major contract of its kind for Iran since Mahmoud Ahmadinejad, an outspoken critic of the United States, took office as president last August.

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