Iran says Chinese state oil firm withdraws from USD 5B deal Iran saysPTI | Tehran | Updated: 06-10-2019 17:00 IST | Created: 06-10-2019 16:55 IST
Iran's oil minister says China's state oil company has pulled out of a USD 5 billion deal to develop a massive offshore natural gas field, an agreement from which France's Total SA earlier withdrew. The Oil Ministry's SHANA news agency quoted Bijan Zangeneh making the comment Sunday.
The 20-year deal at South Pars came after the 2015 nuclear deal between Iran and world powers. France's oil giant Total withdrew from the deal after President Donald Trump unilaterally withdrew America from the accord and imposed crushing sanctions on Iran.
China is in the midst of its own trade war with the US.