Iran cancels $2.5bn deal with Chinese state oil company

Iran cancels $2.5bn deal with Chinese state oil company

PanARMENIAN.Net - Iran has canceled a $2.5 billion deal with a Chinese state oil company over what authorities say were delays in fulfilling its contractual obligations.

The state-owned China National Petroleum Corporation had signed a contract with Tehran in 2009 to develop the giant Azadegan oil field in the southwest of the OPEC member state, the Associated Press reported, citing the country’s official IRNA news agency.

IRNA said Iran's oil ministry had given the Chinese company 90 days to meet its obligations or face expulsion from the project. When that did not happen to Iranian satisfaction, officials decided to terminate the project, according to the agency.

 Top stories
"As two neighbors, Iran and Russia have common viewpoints toward political, regional and global issues," Dehghan said.
At least 2,500 and possibly up to 5,000 suspects have traveled from Europe to conflicts in Syria and Iraq, Wainwright said.
Yet even as Aliyev cultivates the West, he is convinced that foreign-financed organizations, including RFE/RL, are out to get him.
Francis urged people to have greater empathy towards family and friends with problems, saying the world "needs tenderness" and warmth.
Partner news
Soghomon Tehlirian assassinated Talaat Pasha on March 15, 1921

Operation Nemesis was a covert operation by the Armenian Revolutionary Federation carried out from 1920 to 1922, during which a number of former Ottoman political and military figures were assassinated for their role in the Armenian Genocide.