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

    5 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...
    Read more ...