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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (15062)	11/7/2004 11:50:45 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

Iran wants China as top oil importer Move would bump Japan as historic No. 1 partner By Agence France Presse (AFP) BEIJING: Iran wants China to replace Japan as its biggest importer of oil and gas, Iranian Oil Minister Bijan Namdar Zanganeh was reported as saying here Saturday. "Japan is our No. 1 energy importer due to historical reasons ... but we would like to give preference to exports to China," Zanganeh was quoted as saying in the China Business Weekly magazine. "From the supply side, we have no difficulties (in making China the top energy oil importer from Iran)." Iran and China last week signed a preliminary accord under which China will buy 10 million tons annually of liquefied natural gas for 25 years in a deal that is worth some $100 billion. The memorandum of understanding also grants to Chinese oil giant Sinopec the right to exploit the Yadavaran oil field on a buy-back basis in cooperation with a major international oil company. On Saturday, Chinese Foreign Minister Li Zhaoxing said in Tehran that Beijing opposed U.S. efforts to refer Iran to the United Nations Security Council over its nuclear program. "It would only make the issue more complicated and difficult to work out," Li said during a news conference. The United States accuses Iran of secretly trying to develop nuclear weapons under cover of its civilian atomic energy program and wants the UN watchdog International Atomic Energy Agency to take Iran before the UN Security Council when the IAEA meets in Vienna on Nov. 25. Copyright (c) 2004 The Daily Star dailystar.com.lb