Exclusive: China's CNPC weighs taking over Iran project if Total leaves
sources/ BEIJING/LONDON (Reuters) - China’s top oil and gas company CNPC is considering taking over Total’s ( ) stake in a giant Iranian gas project if the French company leaves Iran to comply with any new U.S. sanctions, industry sources said. Total signed the $1 billion deal to develop the South Pars gas field in July. The contract gave CNPC the option to take over Total’s stake if it pulled out, according to sources involved in the talks. The deal was the first major Western energy investment in the Islamic Republic since international ...
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