Report: China offers Iran $3 billion oil deal as Europe halts purchases

World Tribune - 01-18

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Looking to take advantage of a U.S. sanctions waiver, China’s Sinopec has offered $3 billion to Iran to develop the Yadavaran oil field, a report said. The Chinese state-run energy company reportedly told its Iranian government-owned counterpart, the National Iranian Oil Co., that it wanted China’s share of the field’s production to be granted under the U.S. sanctions waiver allocated to China, the Wall Street Journal reported on Jan. 17.