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China Shuns US And Invests Direct In Iran Oil-Fields

Tyler Durden's picture




 

Between Clinton's 'prices to be paid' and Obama's new trade-war, is it any wonder the Chinese have decided to escalate their 'more-than-rhetoric' from bartering away from the USD. After ignoring the sanctions and then receiving their exemption, PressTV reports tonight that China is to invest in developing north and south Iranian oil fields (which will produce 700,000 barrels per day of crude). One of the oil fields, Azadegan, has one of the world’s largest oil deposits, with in-place oil reserves estimated at 42 billion barrels - enough to tide China over a for a while - as Iran's Oil Minister Rostam Qasemi adds after 10-15 years of negotiations the decision has finally (and coincidentally very timely) been reached as "the Chinese side has started its activities by investing USD 20 billion in the oil fields".

 

Via PressTV:

Iran's Oil Minister Rostam Qasemi says China has agreed to invest USD20 billion in developing north and south Azadegan and Yadavaran oil fields which will finally produce 700,000 barrels per day (bpd) of crude oil.

 

Speaking to reporters in a visit to the Petropars Company on Sunday, the oil minister said the agreement for developing Azadegan and Yadavaran oil fields has been reached after 10-15 years of negotiations with the Chinese side.

 

He added that the Chinese side has started its activities by investing USD20 billion dollars in the oil fields.

 

"So far more than 20 drilling rigs have been installed in Azadegan and Yadavaran oil fields and plans have been made for the daily production of 700,000 bpd of crude oil [when development of both fields is complete],” Qasemi stated.

 

The minister said contracts have been signed for the development of 12 new oil fields in the past few months, adding, “Development of some fields, including Azar and Changouleh oil fields has also begun.”

 

Qasemi said necessary measures have been taken for the development of Darkhoein and Mansouri onshore oil fields as well as offshore fields such as Farzad A.

 

Yadavaran oil field is located in the southwestern Khuzestan Province bordering Iraq. The development project of the oil field is expected to be implemented in three phases. Upon the completion of all phases, some 300,000 barrels of oil are expected to be pumped out on a daily basis.

 

Azadegan oil field has one of the world’s largest oil deposits, with in-place oil reserves estimated at 42 billion barrels.

 

Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves.

 

The country's total in-place oil reserves have been estimated at more than 560 billion barrels, with about 140 billion barrels of extractable oil. Moreover, heavy and extra heavy varieties of crude oil account for roughly 70-100 billion barrels of the total reserves.

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Sun, 07/08/2012 - 21:00 | 2597274 nmewn
nmewn's picture

Marx had two three eyed, drooling, mutated offspring...socialists and marxists.

////////////////////

And they had babies too.

So my junkers must also be thinking Angelo Olivetti was not a real marxist/socialist, even though he was. What was he then and why did he start out within the socialist movement?

Da chickinzaaah are a comin hooomah to roostaaah!!! ;-)

/////////////////////

ROTFL!!!

So we got five little socialists (so far) with their mouths hanging open with nothing to say?...this is gotta be a record...socialists always have something to snivel about...out with it!!!

Sun, 07/08/2012 - 21:01 | 2597416 granolageek
granolageek's picture

There were socialists before Marx.

It's like calling the Sinn Fein/IRA Maoists. Mao was a Fenian, not the other way around.

Sun, 07/08/2012 - 21:15 | 2597459 nmewn
nmewn's picture

GreyHeadBeard (whatever) took exception to calling O'Barry a marxist.

Why is it marxists can't stand and defend their beliefs?...is it the record of body counts committed on their own people...the forced marches...the seizing of private property for the states use...the utopian dreams gone yet unsatisfied...the gulags...the ruined economies?

What?

Mon, 07/09/2012 - 03:08 | 2598020 AnAnonymous
AnAnonymous's picture

Why is it marxists can't stand and defend their beliefs?...

__________________________

Because they have borrowed this feature from US citizens?

US citizens are unable to stand for their ground.

Even better, they feel the urge of fabricating a fantasical exterior to conceal the fact.

You know, the old orders, as US citizens say, they suck. And they gave birth to the best thing to ever happen to humanity, US citizenism.

US citizenism off spring: communism, facism, nazism among others.

Quite a collection, quite a collection...

Sun, 07/08/2012 - 20:48 | 2597373 gwar5
gwar5's picture

Of course they're marxist/socialist. What planet are you from??  Seems the only people who don't know are the ones who like getting bitch slapped by Obama's state run MSM everyday.

 

Obama is a third generation commie. His white grandparents made sure their daughter attended the Seattle school with a communist principal. And they introduced litttle Barry to Frank Marshall Davis, a very active lifetime member of the Communist Party USA during the peak of the 1960's cold war. FM Davis would later introduced Barry to Valerie Jarret's Socialist father in Chicago to make the Chicago connection.

Both Obama and Clinton are disciples of marxist Saul Alinsky, Clinton's won't release her college thesis on Alinsky. In college Obama was a member of the campus marxist organization and even snarked to the leader, John Drew, that he wasn't marxist enough!

Sen Obama was the most socialist by voting record of all senators, even beating the admitted socialist Bernie Sanders who was only number 4; Biden was #3, and Kennedy was #2, Obama was numero uno. As president Obama teamed up with Hugo Chavez to back the failed Marxist takeover of Hunduras, our ally. Obama has also ran guns to cartels in Honduras, like he did Mexico, to try to destabilize their Constitutional Republic.

 

 

 

Sun, 07/08/2012 - 20:56 | 2597400 nmewn
nmewn's picture

O'Barry's daddy was a communist. Period.

So was his "uncle" Frank. Period.

End of story.

Sun, 07/08/2012 - 22:32 | 2597646 Bringin It
Bringin It's picture

Obama is only the current front man.  No need to waste anymore time on what his politics may or may not be. 

The bc is interesting because it's just another blatant, shameless fraud perpetrated on the sheeps.

Mon, 07/09/2012 - 06:25 | 2598113 nmewn
nmewn's picture

Yeah well, I say, helluva vetting job dims.

Maybe the pubs can throw up an obvious nazi and even it out one day.

Mon, 07/09/2012 - 21:19 | 2600724 Bringin It
Bringin It's picture

Why pretend?  They are two sides of the same coin.

Sun, 07/08/2012 - 23:49 | 2597814 Cruel Aid
Cruel Aid's picture

You got some red for that statement of truth. LOL

They mean stop saying that!

Mon, 07/09/2012 - 06:21 | 2598110 nmewn
nmewn's picture

The glowing branding iron of truth always makes the commie cows go mooo mooo & kick up their heels a little bit...it was expected and relished on this end ;-)

Sun, 07/08/2012 - 21:12 | 2597451 Tom Green Swedish
Tom Green Swedish's picture

The United States is a 150 year Commie Enterprise.  Obama is the perfect fit.

 

You thought you were "free" in this democracy?  This is nothing democatic about anything anymore.

Sun, 07/08/2012 - 21:23 | 2597486 nmewn
nmewn's picture

GODAMMIT THIS IS NOT A DEMOCRACY!!! IT WAS NEVER INTENDED TO BE A FUCKING DEMOCRACY!!!

WHEN DID THEY STOP TEACHING CIVICS CLASSES IN HIGH SCHOOL ANYWAYS?...ABOUT THE TIME GOVERNMENT TEACHERS FUCKING UNIONIZED!!!

Mon, 07/09/2012 - 03:09 | 2598022 AnAnonymous
AnAnonymous's picture

There is a nigger in the woodspile then, because Obama is your typical US citizen president.

Sun, 07/08/2012 - 20:16 | 2597277 percolator
percolator's picture

Snakeyes, you mean fascists along with team Bush/Romney.

Sun, 07/08/2012 - 19:47 | 2597210 rguptatx
rguptatx's picture

obummer has a big headache tonight!

Sun, 07/08/2012 - 21:17 | 2597468 Bollixed
Bollixed's picture

Obama's ears share a single hole. There's nothing there to ache...

Sun, 07/08/2012 - 19:47 | 2597211 midgetrannyporn
midgetrannyporn's picture

I am glad that Iran and China are giving the middle finger to the larcenous usa political class.

Sun, 07/08/2012 - 19:50 | 2597214 SHEEPFUKKER
SHEEPFUKKER's picture

double bird

Sun, 07/08/2012 - 21:36 | 2597518 Jack Burton
Jack Burton's picture

The USA political elites believe they are all powerful, China just told them to "fuck off!" Yes, somehow that makes me feel good to.

The US elites have now created all the laws necessary to run a Stalinist police state at home, and yes, it is all legal by acts of congress. So why should the average American continue to support a political class who sees us average working people as potential terrorists and enemies of the state? The patriot act and Obama legal signings have given any president the power to kill, arrest, torture, jail and spy on any American they choose.

These are our rulers. I hope Russia and China tell these new American police state rulers to go fuck themselves.

Sun, 07/08/2012 - 22:09 | 2597217 cowdiddly
cowdiddly's picture

And all we got is some dwindling 40 year old Gawar Saudi fields. Trying to bully the world with the Bitch of Buchenwald Hillary ain't working out so good.

Sun, 07/08/2012 - 19:53 | 2597222 gimli
gimli's picture

Oh boy -- now Hillary is really gonna be pissed.......!

Sun, 07/08/2012 - 19:59 | 2597236 alfred b.
alfred b.'s picture

 

   ....silly hillary will for sure be begging for the support from 'our friends and allies'....lol

 

 

 

 

Sun, 07/08/2012 - 20:20 | 2597287 gimli
gimli's picture

It's time for me to gather my cousins Dwalin, Balin and Sarah Palin to exert ourselves in some serious PM mining. Damn the Orcs and damn Hillary ............ 

Sun, 07/08/2012 - 21:11 | 2597449 Tom Green Swedish
Tom Green Swedish's picture

When is Hillary not pissed.  Although I think it would be a riot to see her really blow a gasket.  I think she does it off camera.  I can imagine how hard she must snap at these stupid things like this.

Sun, 07/08/2012 - 21:40 | 2597537 Jack Burton
Jack Burton's picture

Yes, that war monger Clinton whore is going to having a fit when she is told China just invested in Iran's oil future! She is going to be screaming mad and making war threats against the whole world!

She is a puppet of Israel, who is not going to take kindly to China signing on as an economic partner of Iran. Clinton says what Israel tells her to, so listen carefully when she responds to this news, it will be the official Israeli line that she will spout!

My thoughts are, War is now coming sooner rather than later. The USA, NATO and Israel will have to strike before China gets too deeeply invested and before Russia changes it's mind and sells ultra modern anti aircraft systems to Iran and sends their own men to operate them. My guess is the war on Iran has just moved up on Obama's "To do list!"

Sun, 07/08/2012 - 22:52 | 2597687 emersonreturn
emersonreturn's picture

jack burton, are you long oil?

Sun, 07/08/2012 - 19:56 | 2597226 Darth Silver
Darth Silver's picture

nothing like having the kill switch on the global reserve currency. 

Sun, 07/08/2012 - 19:56 | 2597227 TrainWreck1
TrainWreck1's picture

Send in the wookie!

Sun, 07/08/2012 - 19:58 | 2597230 ebworthen
ebworthen's picture

And now that the Chinese are investing so much money, they will have justification for "defending their interests".

Next step will be to get a lot of Chinese citizens scattered about Iran working on the oil fields.

Sun, 07/08/2012 - 20:24 | 2597276 Infinite QE
Infinite QE's picture

Along with Chinese super-stealth subs off the coast of California as well as Israel, loaded with nuclear missles to be launched in the event of any attack on Iran. 

Sun, 07/08/2012 - 21:19 | 2597476 Tom Green Swedish
Tom Green Swedish's picture

I don't understand Infinite QE.  What does it do?

Sun, 07/08/2012 - 19:58 | 2597235 eddiebe
eddiebe's picture

Uncle sam, or should I say his handlers will not like this at all. Watch for fireworks.

Mon, 07/09/2012 - 08:26 | 2597237 DanDaley
DanDaley's picture

Obama loves the Chinese, he just has to pretend to have a hissy fit once in a while to make it look good for domestic consumption.  Les chinois are just a marxist brotha-from-a-notha-motha.  

Sun, 07/08/2012 - 20:00 | 2597238 tony bonn
tony bonn's picture

lmao....china better stop investing or else

is obamney really as stupid as he acts?

Sun, 07/08/2012 - 20:01 | 2597240 newworldorder
newworldorder's picture

No mention of the type of money that will be used to finance this on the part of China.  Fiat, gold or silver? Anyone know?

Sun, 07/08/2012 - 20:36 | 2597341 sosoome
sosoome's picture

" Chinese side has started its activities by investing USD20 billion dollars "

Sun, 07/08/2012 - 20:06 | 2597252 mjk0259
mjk0259's picture

20 billion by when? 20 Chinese drilling rigs on land sure ain't nowhere near that or is that the bribe money?

Sun, 07/08/2012 - 20:09 | 2597259 duckarooni
duckarooni's picture

Pakistan, Russia, Iran, China, Khazakstan, Syria. 

Fillet of a fenny snake,
In the cauldron boil and bake;
Eye of newt and toe of frog,
Wool of bat and tongue of dog,
Adder's fork and blind-worm's sting,
Lizard's leg and howlet's wing,
For a charm of powerful trouble,
Like a hell-broth boil and bubble.

Double, double toil and trouble;
Fire burn and cauldron bubble
(Macbeth: Act 4, Scene 1)

Sun, 07/08/2012 - 20:09 | 2597261 monopoly
monopoly's picture

Yes, agree. China invests in Iran, and we bomb Iran. Not a good idea me thinks.

Mon, 07/09/2012 - 03:11 | 2598024 AnAnonymous
AnAnonymous's picture

Sane point. Not only that, but invasion of Iran, all is seized and constrained to US citizen good will.

The Chinese are doing the development work, US citizens will control the final product.

Classical US citizenism at work.

Sun, 07/08/2012 - 20:10 | 2597262 surf0766
surf0766's picture

So just like some said. The U.S. will do nothing to Iran. NATO will do Syria and Israel will do Iran.

Sun, 07/08/2012 - 20:22 | 2597294 Lucky Guesst
Lucky Guesst's picture

And Hilary will run around the globe with her verbal threats while Obama runs around bowing down... literaly.

Sun, 07/08/2012 - 20:50 | 2597384 toady
toady's picture

Bowing down or bending over?

Sun, 07/08/2012 - 20:50 | 2597383 dark pools of soros
dark pools of soros's picture

no no.. we can get Saddam to fight Iran again... err  wait

Sun, 07/08/2012 - 23:29 | 2597713 emersonreturn
emersonreturn's picture

surfO766, if israel does iran, which it is aching to do, US is in, like it or not.  israel does not listen to the US, rather its hard liners, zealots that are deferred from military service because of their close connection to god, or at least their attempt to live a holy life.

Mon, 07/09/2012 - 00:13 | 2597865 otto skorzeny
otto skorzeny's picture

there was a front page story in a suburban Chicago paper abour how alot of lib jews are switching to Repubs because Obummer is not kowtowing to AIPAC/Isreal. almost wants to make me vote for the guy-that and it will hasten Gotterdamerung

Sun, 07/08/2012 - 20:15 | 2597278 q99x2
q99x2's picture

Clinton, "That bitch." I could just see old CIA Daddy Bush saying that as he reads this article.

Sun, 07/08/2012 - 20:15 | 2597279 CrashisOptimistic
CrashisOptimistic's picture

A tidbit about reserves, Tyler. 

Iran and Iraq have been jacking up their reserves estimates on the basis of spending not a penny in exploration money.  They declare reserves politically and for OPEC quotas.

The technology aspects of reserves do not apply to "in place" numbers.  They apply to recoverable numbers.

So most of these numbers quoted are bogus.  OTOH, behold further evidence that China's domestic oil production is falling.

Sun, 07/08/2012 - 20:40 | 2597352 riley martini
riley martini's picture

Exxon Mobil has 8.7 billion barrels  of reserves in Southern Iraq they are pumping 450,000 barrels a day increasing to 500,000 next year . Last week XOM started exploration projects in Afghanistan .

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