Both China and Iran think that sufficient time has passed from the furore in both countries that followed media reports of a slew of extremely favourable deals awarded by Tehran to Beijing that essentially made Iran a client state of China. Given a bit more time, then – enough for the people and equipment to be moved on to site and set up – Iran is set to announce that an operating unit of the China National Petroleum Corporation (CNPC) will be the major stakeholder in the development of its supergiant new oilfield find, Namavaran, a source who works closely with Iran’s Petroleum Ministry exclusively told OilPrice.com last week. There has been some confusion about the actual reserves numbers in Namavaran, the second largest oilfield discovered in Iran following the Asmari oil layer in Gachsaran with 54 billion barrels of oil in place, but here are the actual figures. […]