[private]China invests an amount of 40 billion dollars in the oil and gas industry of Iran. This report has been confirmed by a senior official of Iran on Saturday. As per the deputy Oil Minister Hossein Noqrehkar Shirazi, the exports of oil from Tehran to china fell by thirty percent than the previous year.

Among these multi contracts worth forty billion dollars, 29 billion dollars goes for the upstream projects, other contracts worth ten billion dollars go in the areas of petro chemicals, refineries, oil and gas pipeline projects.

China has put forward its plans to construct seven new refineries in the country of Iran. Ira is among the top ten exporters of oil to china, yet it has seen its exports fall this year to less than 9.02 million tones of oil.

China is a fine trading partner of Iran in the present times although 15 years back situation between the two nations was different as far as the trade is dogs. At that time, the trade amounted to a value of 400 million dollars.

The western sanctions imposed on Iran by the west opened way for the Chinese companies to invest in this region. Beijing has urged the world powers to solve the issue with Iran amicably.[/private]