قالب وردپرس درنا توس
Home / World / Iran says Chinese state oil firm has withdrawn from $ 5bn deal | China News

Iran says Chinese state oil firm has withdrawn from $ 5bn deal | China News



China's state oil company pulled out of a $ 5bn deal to develop Iran's massive offshore natural gas field, the Islamic Republic's oil minister said.

The South Pars field deal, struck in the wake of Iran's 2015 nuclear Donald Trump's unilateral withdrawal from the US from the deal.

So it comes as China and the United States engage in their own

Oil Minister Bijan Zangeneh, quoted by the ministry's SHANA news agency, said China's National Petroleum Corp was "no longer in the project"

SHANA said the company "had pulled out of a contract" to develop the field.

Officials in Beijing did not acknowledge the decision n.

Iranian Foreign Minister Mohammad Javad Zarif segregated from the US campaign against Tehran and its impact on foreign investment

UK-flagged tanker Stena Impero seized in July leaves Iranian port

"We have been facing plenty of problems in the field of investment because of the US's maximum pressure policy," Zarif told a parliamentary committee, according to the semi-official Tasnim news agency.

Tehran-based political analyst Saeed Leilaz said he was away from the project, "China wants to remain Iran's main trade partner."

Leilaz said that was because a large Iran is currently banking on Iran's banking system.

Iran holds the world's second-largest known reserves of natural gas and the world's fourth largest oil reserves.

Much of its natural gas comes from its massive South Pars field, which shares with Qatar. The initial plan for the development of South Pars involved building 20 wells and two wellhead platforms, a project that would have a capacity of 2 billion cubic feet of natural gas a day.

Petropars getting 19.9 percent.

With Total's withdrawal because of US sanctions, CNPC had taken over the French firm's stake. Now Petropars wants to develop the field alone, Zangeneh said.

Iran's atomic program would be used to build nuclear weapons.

Flailing nuclear deal

Iran canceled another CNPC contract in 2012 amid increasing international sanctions that led to the 2015 nuclear deal.

Saudi oil attacks: Riyadh displays' evidence 'Iran responsibility

Iran has since begun breaking terms of the nuclear deal. In late September, the US sanctioned Chinese shipping firms said they were ferrying Iranian crude oil.

Tensions peaked on September 14 when a Saudi oil installations hit the Gulf War.

While Yemen's Iranian-linked Houthi rebels claim the assault, Saudi Arabia says it's "unquestionably sponsored by Iran."

Iran denies being responsible and has warranted any retaliatory attack targeting it will result in "all-out warfare."

SOURCE:
             Al Jazeera and news agencies


Source link