• 4 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 8 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 14 hours Conflicting News Spurs Doubt On Aramco IPO
  • 15 hours Exxon Starts Production At New Refinery In Texas
  • 17 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 1 day Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 1 day Oil Gains Spur Growth In Canada’s Oil Cities
  • 1 day China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 7 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 7 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 7 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 7 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 8 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 8 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 8 days Chinese Teapots Create $5B JV To Compete With State Firms
Footloose Iraq Cannibalizes Saudi Market Share

Footloose Iraq Cannibalizes Saudi Market Share

OPEC’s de-facto leader Saudi Arabia…

This OPEC Strategy Could Boost Uranium Prices Next Year

This OPEC Strategy Could Boost Uranium Prices Next Year

Kazakhstan, the world’s largest uranium…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Iran & Total To Finalize Gas Deal Within A Month

Oil Rig

France’s oil major Total SA will likely finalize the deal for the development of a large natural gas project in Iran in less than a month, having seen some “positive” signs from the U.S. concerning the sanctions on Iran, Iranian news agency ISNA quoted Iran’s Deputy Oil Minister for International Affairs and Trade, Amir Hossein Zamaninia, as saying on Sunday.

Total was waiting to see any “positive” developments in the U.S. regarding the sanctions on Tehran, “those developments took place and Total will continue negotiating with Iran on a final agreement over the project,” ISNA quoted Zamaninia as saying.

Total signed in November 2016 a preliminary deal to invest billions of dollars in the development of the giant South Pars gas field in Iran, becoming the first western major to sign up for investing in Iranian oil and gas since the international sanctions on Iran were lifted in January 2016.

Total is leading a consortium to develop phase 11 of the South Pars gas field, expected to have a production capacity of 1.8 billion cubic feet per day, or 370,000 barrels of oil equivalent per day, the French company said, adding that its interest in the project is 50.1 percent.

In February 2017, Total’s chief executive Patrick Pouyanne said that the French major was waiting for an extension of the waiver on U.S. sanctions against Iran before it makes the final decision on a $2.2-billion investment in the South Pars 11 project.

Related: Exxon Attempts To Maneuver Around Russian Sanctions

Last week, U.S. Secretary of State Rex Tillerson said in a letter to the Speaker of the House of Representatives, Paul Ryan, that Iran had so far complied with the nuclear deal it agreed to, but the Islamic Republic continues to sponsor terrorism, and an interagency review will evaluate whether continuing to lift sanctions would be in U.S. national security interests.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News