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China defies US sanctions as EU leaves Iran

China defies US sanctions as EU leaves Iran

Reuters reports that China, seeking to skirt U.S. sanctions, will use oil tankers from Iran for its purchases of that country’s crude, throwing Tehran a lifeline while European companies such as France’s Total are walking away due to fear of reprisals from Washington.

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NIOC: France's Total contract unchanged

NIOC: France's Total contract unchanged

Reuters reports that a gas field development contract with France’s Total (TOTF.PA), and China’s state-owned CNPC remains unchanged, a senior Iranian oil official said according to the oil ministry news agency SHANA on Saturday - hours after state new agency IRNA quoted him as saying CNPC had taken Total’s share in the project.

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EU opposition to US request to isolate Iran

EU opposition to US request to isolate Iran

France 24 writes that EU countries on Monday gave European firms legal cover to operate in Iran despite the US pullout from the nuclear deal, after a report that the Trump administration has rejected calls by Brussels for an exemption from sanctions.  

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South Pars Gas Field upgraded despite sanctions

South Pars Gas Field upgraded despite sanctions

Reuters LONDON, reports on 19 June - The possible withdrawal of French oil major Total from Iran’s South Pars gas field has not slowed down the project, a senior Iranian official said, adding that Tehran is in talks with Russia’s Gazprom over the development of two other fields. 

 

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Ten companies who left Iran

Ten companies who left Iran

On 6 June 2018, Ellen R Wald wrote in Forbes that when President Trump announced the return of U.S. sanctions on Iran almost one month ago on May 8, there was a great deal of skepticism about how many global businesses would cease operations in Iran or with Iranian agents.  

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Iran warns Total

Iran warns Total

Iran’s Petroleum Minister has said: “As indicated in our agreement, if the French company, Total, withdraws from South Pars 11 gasfield development, China’s CNPC will take over.”

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Iran-Russia sign IPC oil contract

Iran-Russia sign IPC oil contract

The second Iran Petroleum Contract (IPC) to develop joint “Aban” and “West Paydar” oil fields has been signed with Russia. Iran’s Minister of Petroleum stated that this was a special contract, generating USD 4BN in revenue for Iran.  

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Trump unable to stop Iran oil exports

Trump unable to stop Iran oil exports

Iran’s Minister of Petroleum spoke on the comments of the US President Donald Trump to reduce Iran's oil purchases, and said: “These words have had no effect on our country's oil exports to date.”    

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