China this week signed up to revamp Iran’s largest refinery. Upstream awards are likely too, if Chinese contractors can “pull themselves together.”

Iran’s Oil Ministry has signed a number of MoUs with China’s National Energy Administration, including for renovation of its largest refinery, the 400,000 b/d capacity Abadan plant. Oil Minister Bijan Zanganeh, speaking at the 15 May signing during a visit of Chinese officials to Tehran, pegged the expected cost of...