“If Total walks away from the South Pars field, which has the world’s biggest natural gas reserves ever found in one place, CNPC is prepared to step in,” the source was quoted as saying.
“The possibility of Total’s pullout is quite high now, and in that scenario CNPC will be ready to take it over fully,” Reuters quoted a senior state oil official with knowledge of the contract as saying.
“CNPC foresaw a high probability of a re-imposition of (US) sanctions,” the executive said.
US President Donald Trump announced on Tuesday that Washington would pull out of Iran nuclear deal and reinstate nuclear sanctions on Iran.
This is while most world powers, including Russia, China, and the European Union have repeatedly stressed that keeping the deal is in the interest of world peace and security.
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Tehran, May 12, IRNA - China National Petroleum Corporation (CNPC) is ready to replace French multinational integrated oil and gas company ‘Total’, Reuters reported.
