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Energy battle lines drawn on US-Iran divide

US sanctions have forced western companies out of Iran, but Russian and Chinese companies have an opportunity to fill the void US sanctions have forced western companies out of Iran, but Russian and Chinese companies have an opportunity to fill the void.

By Staff reporter 27 July 2018 0 31913

South Pars Phase 12. (Pars O&G;)

The United States’ decision in May to reimpose sanctions on Iran is forcing governments and international companies to pick sides, with consequences for their participation in the development of Iranian gas projects.

While western oil companies have reluctantly sided with the US and largely withdrawn, Russia has already taken steps to fill the void. China also looks set to expand its presence in Iran’s upstream.

National Iranian Oil Co. (NIOC) is analysing a proposal from Gazprom to develop the Kangan and Dalan reserves in Iran’s North Pars...

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