Iran Runs to China For Oil Deal...

Okay people things are just starting to get serious... and WHY does everyone keep referring to China as a model??? Because their modo is “it’s only about business not politics”? I wouldn't be so sure about that ...

Forbes.com posted this article yesterday entitled, "Iran Runs to China For Oil Deal". Here are a few excerpts taken from the article:

LONDON - China is fast becoming a model business partner for the Middle East.

Fresh from approving its biggest ever oil refinery joint venture with Kuwait's national oil company, worth $5.5 billion, Chinese oil company Sinopec (nyse: SHI - news - people ) announced on Monday a $2 billion contract to develop the Yadavaran oil field in south-west Iran.

The seven-year project aims to produce 85,000 barrels a day for the first four years, later hiking the output to 185,000 barrels a day. Iranian oil minister Gholamhossein Nozari said on Monday that Sinopec's profit margin had been finalized at 14.98%, whereas the Chinese company had previously requested 15%.

But even for a model customer like China, which does not preach politics to its trading partners, investing in Iran will be a challenge.

China relies on the Middle East for over half its total oil imports, and the Institute for the Analysis of Global Security has predicted this share will rise to 70% by 2015.