US peturbed by China's oil plans | Connect Asia

US peturbed by China's oil plans

US peturbed by China's oil plans

Updated 22 March 2012, 22:45 AEDT

This week a Chinese oil company announced a two-billion dollar contract to develop the Yadavaran oil field in south-west Iran.

That follows the approval of China's biggest ever oil refinery joint venture, worth 5.5 billion dollars, with Kuwait's national oil company. The United States is not impressed - saying the Iranian deal would undermine international efforts to pressure Tehran to give up its nuclear program.

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