• U.S.-Iran Sanctions Give China Lead in World's Biggest Gas Field

    8 days ago - By Fortune

    China National Petroleum Corp. is expected to take the lead on a $5 billion project to develop Iran's share of the world's biggest gas deposit, taking over from France's Total SA, which halted operations after U.S. President Donald Trump reimposed sanctions on the Islamic Republic.
    State-owned CNPC, which had joined an original consortium involving Total and Iran's Petropars Ltd. in 2016 to develop Phase 11 of the South Pars Gas field in the Persian Gulf, would increase its stake in the project from the current 30 percent. Total had originally agreed to take a 50.1 percent stake in the...
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  • Iran official says gas field contract with Total, CNPC unchanged: SHANA

    8 days ago - By Reuters

    A gas field development contract with France's Total , and China's state-owned CNPC remains unchanged, a senior Iranian oil official said according to the oil ministry news agency SHANA on Saturday - hours after state new agency IRNA quoted him as saying CNPC had taken Total's share in the project.
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