Tag Archives: China National Petroleum Corporation (CNPC)

Total has always been clear that it cannot afford to be exposed to any secondary sanction.

Total would have to withdraw from the project if it does not obtain specific waivers from the United States government to pursue the project.

If the U.S. administration does not agree with Total staying in Iran. China will replace this company.

Total said on May 16 that it would pull out of South Pars if it did not receive a waiver from the United States.

PetroChina raised April gas supplies by 14 percent over a year earlier.

British Pergas seems to do little business in the United States. which potentially boosts its freedom to operate in Tehran.

French energy giant Total this week announced it will pull out of a major gas project in Iran by this fall unless U.S. sanctions are waived.

Total holds a 50.1 per cent stake in the South Pars project.

China. the world'.s top crude oil buyer. imported around 655.000 barrels a day on average from Iran in the first quarter of this year.

Total has spent $90 million to help develop the offshore field and won’t be compensated before production begins.