[Reuters] Iran said it signed a $4.7 billion contract with a Chinese state firm Wednesday to develop a part of a major gas field, replacing French energy company Total which it had accused of delays. With Western firms wary of investing in the Islamic state due to its nuclear row with the U.S., Tehran has increasingly been looking towards energy-hungry Asian countries for investment to help exploit its vast gas and oil reserves.
2009-06-05 06:00:00Full ArticleBACK Visit the Daily Alert Archive