Japan oil execs nervous about China, Iran

http://news.monstersandcritics.com/business/article_1042303.php/Japan_oil_execs_nervous_about_China_Iran

TOKYO, Japan (UPI) -- Japanese oil executives fear the government could bow to U.S. pressure, giving China an advantage in developing Iranian oil.
The Japanese company Inpex heads a consortium that has agreed to invest $1 billion in the first six-year phase of developing the Azadegan oil field. But the second phase is still up for grabs, Japan Times reports.
"China could get the drilling data and glide into the second phase without doing any of the initial grunt work," an Inpex executive told the newspaper.
Trade between Iran and China has been growing. Political ties could also become closer, with China supporting Iran on the United Nations Security Council as other countries try to pressure Tehran to abandon its uranium enrichment program.
Copyright 2005 by United Press International
TOKYO, Japan (UPI) -- Japanese oil executives fear the government could bow to U.S. pressure, giving China an advantage in developing Iranian oil.
The Japanese company Inpex heads a consortium that has agreed to invest $1 billion in the first six-year phase of developing the Azadegan oil field. But the second phase is still up for grabs, Japan Times reports.
"China could get the drilling data and glide into the second phase without doing any of the initial grunt work," an Inpex executive told the newspaper.
Trade between Iran and China has been growing. Political ties could also become closer, with China supporting Iran on the United Nations Security Council as other countries try to pressure Tehran to abandon its uranium enrichment program.
Copyright 2005 by United Press International