China’s largest crude oil refiner, Sinopec, has offered US$3 billion to Iran’s state oil company, NIOC, to jointly expand the development of a major field in Iran, the Wall Street Journal reports, citing sources in the know. The sources, who wished to remain unnamed, said the Chinese company considered the offer safe from the sanctions the United States reimposed on Iran last November because the initial deal for the development of the Yadavaran field was inked back in 2007. The offer, according to the Wall Street Journal, was made…
