CNPC to take over Iran oil fields

Updated 2018-05-15 14:14:02

China's oil major CNPC is planning to take over Total's participation in Iran's South Pars natural gas project, according to media reports on Monday.

The French oil company is seen as likely to pull out from the project after US President Donald Trump announced the US will abandon the Iran nuclear deal, domestic news website sina.com reported.

Total has a 50.1 percent stake in the South Pars field, the largest natural gas field in the world, with estimated reserves worth .9 trillion. CNPC holds 30 percent and Iran's PetroPars has 19.9 percent.

The deal signed last year gives CNPC the option to acquire Total's stake in case of a pullout.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 16 2018 22:41:11

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 16 2018 22:41:11

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 16 2018 22:41:11

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords