Tag Archives: China National Petroleum Corporation (CNPC)

In 2017. China imported 95.6 billion cubic meters of natural gas via the Central Asian.

Such decision was due to Washington'.s announcement that it would impose sanctions on enterprises making business with this Islamic republic.

CNPC has now a 30 percent stake. while PetroPars holds the remaining 19.9 percent.

CNPC'.s PetroChina division has a 25-year supply contract with U.S. producer Cheniere.

Total had previously withdrawn from the field in 2009 because of sanctions.

The renewed US sanctions were among those lifted under a 2015 deal between world powers and Tehran on curbing Iran’s nuclear program.

China earlier this year introduced the petroyuan as an alternative to the US dollar-dominated oil industry .

The latest threat from President Trump is to slap tariffs on US$200 million worth of Chinese goods.

Total signed a contract in 2017 to develop Phase II of South Pars field with an initial investment of $1 billion.

China’s crude oil production dropped by 2.3 percent on the year in June.