Iran: French Firm Out of South Pars Gas Project, China Is In

Iran’s official IRNA news agency is reporting that China’s state-owned petroleum corporation has taken a majority share of the country’s South Pars gas project after French oil and gas company Total announced it would pull out because renewed U.S. economic sanctions against Iran.

کد خبر: ۸۲۴۶۰۴

تاریخ: ۲۱ مرداد ۱۳۹۷ - ۱۰:۰۷

The Saturday report quotes Mohammad Mostafavi, an official in Iran’s state oil company, as saying CNPC now owns 80 percent of the shares in the $5 billion project, having bought shares from Total.

CNPC originally had about 30 percent of shares in the project.

The renewal of U.S. sanctions took effect on Tuesday.