Sher Malang
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TEHRAN, Dec. 26 (Xinhua) -- Iran signed an agreement with Afghanistan to export one million tons of Iranian oil products annually to the country, the local satellite Press TV reported Monday.
According to the contract, Iran will export products including gasoil (diesel fuel), jet fuel and gasoline to Afghanistan, said the report.
The agreement was signed Monday by visiting Afghanistan's Minister of Commerce and Industry Anwar-ul-Haq Ahadi and managing director of the National Iranian Oil Refining and Distribution Company Alireza Zeighami.
Speaking to reporters on the sidelines of the signing ceremony, Zeighami said that 60 to 70 percent of the export will be in the form of gasoil.
The price of Iran's oil products will be determined according to international rates, he added.
"We already exported gasoil to Afghanistan, but export of gasoline and jet fuel will start next year," Zeighami was quoted as saying.
Source: Iran to export one million tons of oil products to Afghanistan annually: report - People's Daily Online
---------- Post added at 09:31 AM ---------- Previous post was at 09:29 AM ----------
China gets approval for Afghanistan oil exploration bid
China has gained potential access to millions of barrels of oil after it won approval for oil exploration and extraction in Afghanistan.
The country's cabinet approved a deal to allow China National Petroleum Corporation (CNPC) to develop oil blocks in the Amu Darya Basin.
The basin is estimated to hold around 87 million barrels of oil.
The deal comes as China is looking to expand its oil resources in wake of a growing domestic demand.
"The Afghan cabinet has ordered mines minister Wahidullah Shahrani to sign an oil exploration contract for Amu Darya with China National Petroleum Corporation," Afghanistan president's office said in a statement.
'Taking a punt'
The state-owned CNPC will carry out the oil exploration and extraction with a local partner, the Watan Group.
While there has been a lot of talk about the potential of natural resources in Afghanistan, analysts said that it was too early to predict the profitability of the venture.
"To a certain extent they are taking a punt," Tony Regan of Tri-Zen, a Singapore-based consultancy, told the BBC.
Mr Regan explained that CNPC will have to spend a considerable amount of money to explore the basin before it can actually find out about the amount of oil that may exist there.
"It is about five to ten years before they can get a feel of what is under the ground and start commercially producing it," he added.
Growing investments
The approval is a major win for China as it has been looking to invest in resource-rich Afghanistan.
However, analysts said that resources is not the only sector that China is looking to invest in.
"The deal is a way of getting a foot inside the door," said Charles Chaw of China Knowledge Consulting.
The ongoing war in Afghanistan has seen its infrastructure and economy being damaged.
Analysts said that as peace returns to the country, it will require a lot of rebuilding activity in order to trigger economic growth in coming years, something that China is keen to tap into.
"China is looking towards a much bigger scale of investment," said Mr Chaw.
"This could involve projects in infrastructure, including high-speed rail in times to come," he added.
Source: BBC News - China gets approval for Afghanistan oil exploration bid
According to the contract, Iran will export products including gasoil (diesel fuel), jet fuel and gasoline to Afghanistan, said the report.
The agreement was signed Monday by visiting Afghanistan's Minister of Commerce and Industry Anwar-ul-Haq Ahadi and managing director of the National Iranian Oil Refining and Distribution Company Alireza Zeighami.
Speaking to reporters on the sidelines of the signing ceremony, Zeighami said that 60 to 70 percent of the export will be in the form of gasoil.
The price of Iran's oil products will be determined according to international rates, he added.
"We already exported gasoil to Afghanistan, but export of gasoline and jet fuel will start next year," Zeighami was quoted as saying.
Source: Iran to export one million tons of oil products to Afghanistan annually: report - People's Daily Online
---------- Post added at 09:31 AM ---------- Previous post was at 09:29 AM ----------
China gets approval for Afghanistan oil exploration bid
China has gained potential access to millions of barrels of oil after it won approval for oil exploration and extraction in Afghanistan.
The country's cabinet approved a deal to allow China National Petroleum Corporation (CNPC) to develop oil blocks in the Amu Darya Basin.
The basin is estimated to hold around 87 million barrels of oil.
The deal comes as China is looking to expand its oil resources in wake of a growing domestic demand.
"The Afghan cabinet has ordered mines minister Wahidullah Shahrani to sign an oil exploration contract for Amu Darya with China National Petroleum Corporation," Afghanistan president's office said in a statement.
'Taking a punt'
The state-owned CNPC will carry out the oil exploration and extraction with a local partner, the Watan Group.
While there has been a lot of talk about the potential of natural resources in Afghanistan, analysts said that it was too early to predict the profitability of the venture.
"To a certain extent they are taking a punt," Tony Regan of Tri-Zen, a Singapore-based consultancy, told the BBC.
Mr Regan explained that CNPC will have to spend a considerable amount of money to explore the basin before it can actually find out about the amount of oil that may exist there.
"It is about five to ten years before they can get a feel of what is under the ground and start commercially producing it," he added.
Growing investments
The approval is a major win for China as it has been looking to invest in resource-rich Afghanistan.
However, analysts said that resources is not the only sector that China is looking to invest in.
"The deal is a way of getting a foot inside the door," said Charles Chaw of China Knowledge Consulting.
The ongoing war in Afghanistan has seen its infrastructure and economy being damaged.
Analysts said that as peace returns to the country, it will require a lot of rebuilding activity in order to trigger economic growth in coming years, something that China is keen to tap into.
"China is looking towards a much bigger scale of investment," said Mr Chaw.
"This could involve projects in infrastructure, including high-speed rail in times to come," he added.
Source: BBC News - China gets approval for Afghanistan oil exploration bid
