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OIL AND GAS
China, Iran begin implementation of sweeping strategic agreement
by AFP Staff Writers
Beijing (AFP) Jan 15, 2022

China said Saturday it would begin implementing a strategic agreement with Iran, strengthening economic and political cooperation between the two countries as Beijing blasted Washington's sanctions on Tehran.

China and Iran signed the agreement last year after years of talks, with the wide-ranging partnership set to span areas including energy, security, infrastructure and communications.

Chinese foreign minister Wang Yi and Iranian counterpart Hossein Amir-Abdollahian announced the start of the partnership's implementation at a meeting in east China's Wuxi on Friday, Beijing's foreign ministry said in a statement.

Few details of the secretive deal have been published, but the New York Times reported in 2020 that it would secure a regular supply of oil for China, citing a draft of the agreement leaked to the paper.

China is Iran's leading trade partner and was one of the biggest buyers of the country's oil before then-US president Donald Trump reimposed sweeping unilateral sanctions in 2018.

China has officially stopped importing oil from Iran, but analysts say Iranian crude is continuing to enter the country disguised as imports from other countries.

Wang told his Iranian counterpart Friday that China would continue to "oppose illegal unilateral sanctions against Iran," the foreign ministry said.

Beijing has long sought to boost ties with Tehran, with Chinese president Xi Jinping describing Iran as "China's major partner in the Middle East" on a rare visit to the country in 2016.

Wang and Amir-Abdollahian's meeting comes as talks continue in Vienna over a potential deal to halt Tehran's development of nuclear weapons.

A 2015 deal -- agreed by Iran, the US, China, Russia, Britain, France and Germany -- offered Tehran sanctions relief in exchange for curbs on its nuclear programme.

But the US withdrew from the agreement in 2018, reimposing biting sanctions and prompting Tehran to begin rolling back on its commitments.

Talk to salvage the nuclear deal began in late November, after being suspended when Iran elected a new ultraconservative government in June.

Wang told his Iranian counterpart on Friday that China believes the United States is to blame for the current state of the deal, the foreign ministry said in its statement.


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OIL AND GAS
Load up the hydrogen but hold the carbon
Kyoto, Japan (SPX) Jan 14, 2022
In the global race to curb climate change and reduce carbon emissions, hydrogen is considered a serious contender to replace fossil fuels. Although hydrogen 'burns' cleanly, with only water as a by-product, the current way of making hydrogen a reliable fuel alternative is energy- and carbon-intensive. Whether water is split with electricity or hydrogen is released from fossil fuels or other hydrocarbon sources, every step forward in making hydrogen is accompanied by at least two steps back in term ... read more

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