Total

  • The company will start with an initial investment of $10 billion, CEO Patrick Pouyanne said at the signing ceremony, adding that engineering work will begin immediately.

  • Iranian Oil Minister Bijan Namdar Zanganeh said the China National Petroleum Company (CNPC) has officially replaced French company Total which has backed out of a deal on development of Iran's South Pars gas field.

  • French oil major Total will “abide by the US sanctions” and seek an early exit from its investment in Iran, according to a source familiar with the matter.

  • CEO of MAPNA Abbas Aliabadi said his holding is prepared to carry out the unfinished project to develop phase 11 of South Pars gas field and take over the shares of Total, which has decided to back off from working with Iran under the pressure of US sanctions.

  • A member of Parliament’s Energy Committee said Mon. that Iran would seize Total’s investment revenues if the French company fails to return to the South Pars project before the deadline.

  • Minister of Petroleum Bijan Zanganeh said French company ‘Total’ has not announced anything over walking away from the South Pars field due to Washington's exit from Iran's nuclear deal.

  • “We have imported enough number of CRA (corrosion resistant alloy) pipes for South Pars phase 13 oil wells in positions B and D and we are expecting to fully tap the wells,” said Managing Director of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam on Wednesday.

  • France's Total SA, the only western energy major investing in Iran, will lose its stake in the South Pars Gas Field to its Chinese partner if the Paris-based company withdraws from the country, the head of National Iranian Oil Company said.

  • Iran averagely exported 2.6 million barrels per day (mb/d) of oil to Asian and European countries during the current fiscal year, started March 20, 2017.

  • France’s Total will lose all of its investment if it pulls out of a deal with Iran to develop South Pars, the world’s largest gas field, Iranian oil minister emphasized.