The US has suggested to Japan that it invest in Libya's oil industry instead of a project to tap Iran's giant Azadegan oilfield that has irked Washington, a Bush administration official said on Friday.
The US, which has sanctions against US companies doing business in Iran, has persistently expressed its disappointment that its close ally, resource-poor Japan, would invest in the Islamic Republic in a US$2 billion project.
If Japan moves its business to Libya it would be symbolic because the US has touted the North African country as a model for nations, such as Iran and North Korea, to persuade them to scrap suspected nuclear arms programs.
Weapons of mass destruction
Last December, Libya decided to abandon weapons of mass destruction and in return won US economic and diplomatic rewards that could help its oil industry boom.
"We understand their energy needs," the administration official, who asked not to be named, said.
"But there is no question that we are emphasizing that Libya is an alternative that is going to come online soon," the administration official said.
Washington is increasingly worried about Iran's suspected nuclear programs.
Look elsewhere
The US government has encouraged Japan to look elsewhere, a State Department official said without specifying that Washington was promoting Libya as an alternative arena for investment.
The Japanese Embassy in Washington said that it had no comment.
The administration official said Japan was sensitive to increasing US concerns about Iran.
The official nonetheless said that Japan had not indicated that it would withdraw from an oilfield, which is about the size of Tokyo.
Azadegan's estimated 26 billion barrels of reserves is one of the world's largest untapped finds.
It also represents one of Tehran's biggest international business deals since the 1979 Islamic revolution.
Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. He credits Salvadoran President Nayib Bukele’s decision to bank on bitcoin three years ago with changing his life. “Before I was unemployed... And now I have my own business,” said the 39-year-old businessman, who uses an app to charge for rides in bitcoin and now runs his own car rental company. Three years ago the leader of the Central American nation took a huge gamble when he put bitcoin
TECH RACE: The Chinese firm showed off its new Mate XT hours after the latest iPhone launch, but its price tag and limited supply could be drawbacks China’s Huawei Technologies Co (華為) yesterday unveiled the world’s first tri-foldable phone, as it seeks to expand its lead in the world’s biggest smartphone market and steal the spotlight from Apple Inc hours after it debuted a new iPhone. The Chinese tech giant showed off its new Mate XT, which users can fold three ways like an accordion screen door, during a launch ceremony in Shenzhen. The Mate XT comes in red and black and has a 10.2-inch display screen. At 3.6mm thick, it is the world’s slimmest foldable smartphone, Huawei said. The company’s Web site showed that it has garnered more than
Vanguard International Semiconductor Corp (世界先進) and Episil Technologies Inc (漢磊) yesterday announced plans to jointly build an 8-inch fab to produce silicon carbide (SiC) chips through an equity acquisition deal. SiC chips offer higher efficiency and lower energy loss than pure silicon chips, and they are able to operate at higher temperatures. They have become crucial to the development of electric vehicles, artificial intelligence data centers, green energy storage and industrial devices. Vanguard, a contract chipmaker focused on making power management chips and driver ICs for displays, is to acquire a 13 percent stake in Episil for NT$2.48 billion (US$77.1 million).
CROSS-STRAIT TENSIONS: The US company could switch orders from TSMC to alternative suppliers, but that would lower chip quality, CEO Jensen Huang said Nvidia Corp CEO Jensen Huang (黃仁勳), whose products have become the hottest commodity in the technology world, on Wednesday said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience at a Goldman Sachs Group Inc technology conference in San Francisco. “We probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.” Huang’s company is experiencing strong demand for its latest generation of chips, called