Chinese companies are still welcome in Iran’s energy sector, but those not meeting their obligations are a source of frustration, the oil minister said Tuesday. Iranian Oil Minister Bijan Zanganeh last week said a contract with China National Petroleum Corp. for development of the South Azadegan oil field was torn up because the company wasn’t meeting Iran’s expectations at a field said to hold more than 40 billion barrels of oil. The minister said Tuesday there was a continued interest with working with Chinese companies, though the government was so far not happy with their performance. “[The] ministry has by no means any intention of removing Chinese companies and investors from [Iran’s] petroleum industry, but Iran has ended its cooperation with the Chinese firms that have not fulfilled their obligations in some projects,” he said . CNPC was given a contract from the Iranian […]