French oil major Total said Friday the probability of winning an exemption from US sanctions against Iran to continue a major gas field project was very faint. The energy giant had already warned that, unless Washington granted it a waiver, it would pull out of the South Pars 11 project which it started in July 2017, two years after Western powers signed a nuclear deal with Tehran prompting the return of many businesses to Iran. Iran's oil minister on Wednesday gave Total 60 days to win a sanctions waiver from Washington before it would lose its stake in the multi-billion-dollar project.
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June 01, 2018 at 04:34PM
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