NEWS
Gas  

Chinese Firm Replaces Total in Iran’s South Pars Project: Minister

Iranian Oil Minister Bijan Namdar Zanganeh said the China National Petroleum Company (CNPC) has officially replaced French company Total which has backed out of a deal on development of Iran's South Pars gas field.

The CNPC has formally replaced Total in the project on development of South Pars gas field’s phase 11, Zanganeh announced on Sunday, but noted that the Chinese company has not still begun the job.

“Negotiations should be held with the Chinese company CNPC to see when it would start the operational activities,” the minister added.

In July 2017, Total signed a $1 billion deal to develop the South Pars gas field, south of Iran.

According to the agreement, the CNPC could take over Total’s 50.1 percent stake and become operator of the project in case of Total’s withdrawal from Iran.

Total pulled out of South Pars deal in May 2018 in light of a decision by US President Donald Trump to pull his country out of the 2015 Iran nuclear deal.

News No: 2707
Date: 2018/11/25 - 21:45
News Source: Tasnim News Agency

China  South Pars  Oil  Bijan Namdar Zanganeh  CNPC 

Comments:

Leave a Comment:

   
   
   
 

Brent Rises After OPEC, Non-OPEC Deal to Cut Supplies From January

Brent crude oil futures rose on Monday after OPEC and some non-affiliated suppliers last Friday agreed to a supply cut from January.
 

China’s 2019 steel use, output forecast to drop

China's steel consumption could fall in 2019 after it accelerated to double-digit growth this year, state-run Chinese think-tank the metallurgical planning and research institute said today.
 

3rd Gas Sweetening Train of Phase 22-24 Refinery Online

Iran has launched the third gas sweetening train of the onshore refinery of South Pars phases 22-24.
 

Malaysia to Extend Oil Output Cut

Malaysia will extend its oil production cuts by another six months after the agreement between OPEC and other oil producers to reduce global supply ends this year.
 

Iran’s Gas Flow to Iraq Resumed after Pipeline Repair

Iran resumed its flow of gas exports to Iraq after a short period of pause in the stream due to pipeline repair operations.
 

China's Nov. Oil, Gas Imports Set Record

China’s imports of crude oil hit a fresh monthly high in November, customs data showed on Saturday, beating the record set in October on heavy buying from private refiners and trial starts of new mega-refineries.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners