The United States is unlikely to grant French major Total a sanctions waiver to participate in the development of Iran’s South Pars field. And despite reports that project partner China National Petroleum Corp. (CNPC) is ready to step into the breach, Iran may still end up developing Phase 11 of South Pars alone.
Total is requesting a waiver following US President Donald Trump’s announcement on 8 May that he would reinstate sanctions on Iran in six months’ time.
The EU and the French government are...
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