BREAKING: Iran's oil minister says China's state oil company has pulled out of a $5 billion deal to develop its massive offshore natural gas field, an agreement from which France's Total SA earlier withdrew.
TEHRAN, Iran — Iran’s oil minister says China’s state oil company has pulled out of a $5 billion deal to develop a massive offshore natural gas field, an agreement from which France’s Total SA earlier withdrew.Zangeneh said Iranians alone would redevelop the portion of its South Pars oil field.
Zangeneh gave no reason for the Chinese withdrawal and officials in Beijing didn’t immediately acknowledge it.France’s oil giant Total withdrew from the deal after President Donald Trump unilaterally withdrew America from the accord and imposed crushing sanctions on Iran.
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