OREANDA-NEWS. May 19, 2014. China National Petroleum (PTR +1.1%) will retain Iran’s North Azadegan oil field project for now, Iran’s deputy oil minister for international affairs tells WSJ, after losing its contract for the neighboring South Azadegan project last week due to repeated delays.

It's good news for Chinese oil companies generally, which have been losing ground in Iran’s oil sector in recent weeks over continuous setbacks.