|
|
Article: Iran-Japan $2bn oil deal goes ahead; despite intense and protracted pressure from the United States a consortium of Japanese companies has signed a $2bn oil deal with the Islamic Republic of Iran. Milan Vesely reports from Washington.(Business & Finance)
- Article from:
- The Middle East
- Article date:
- April 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Japan's insatiable requirement for new energy sources has overcome its concern at American objections and signed a $2bn oil deal with Iran. And, with more than 88% of Japan's oil importation now coming from the Middle East, namely Saudi Arabia and the UAE, Japanese companies are poised to become dominant players in one of the world's largest areas of undeveloped oil fields.
"Japan is the second largest oil consumer in the world and Iran is the second largest oil producer in OPEC, so we are actually two sides of the same coin," Iranian Oil Minister Bijan Zanganeh said at the signing, brushing aside American concerns about Iran's on-going, nuclear programmes.
...