• Wednesday, May 23, 2018

BREAKING: Total says it will withdraw from South Pars 11 gas project in Iran

Discussion in 'Middle East & Africa' started by The SC, May 16, 2018.

  1. The SC

    The SC ELITE MEMBER

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  2. The SC

    The SC ELITE MEMBER

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  3. GBU-28

    GBU-28 FULL MEMBER

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    Great news.
     
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  4. ZeEa5KPul

    ZeEa5KPul FULL MEMBER

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    CNPC just went, "SCORE!!!"
     
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  5. Kaptaan

    Kaptaan PDF THINK TANK: CONSULTANT

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    What did I say about Europe/USA being just heads of the same Hydra. We call it the "West". The only country on earth that is most innoculated from US pressure is China -and even that is not absolute.

    [​IMG]



    Quote below from my post in another thread. "Moaning but will fall in line".
    And one by one they will fall in line. Xcept China. Which will also get pulled by USA but still will remain the outlier.

    @AmirPatriot @Cybernetics
     
    Last edited: May 16, 2018
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  6. BHarwana

    BHarwana ELITE MEMBER

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    China's CNPC ready to take over Iran project if Total leaves: sources


    BEIJING (Reuters) - China’s state-owned energy major CNPC is ready to take over Total’s stake in the giant Iranian South Pars gas project if the French company leaves amid newly announced U.S. sanctions, industry sources said.

    The United States this week said it would impose new sanctions against major oil and gas producer Iran after abandoning an agreement reached in late 2015 that limited Tehran’s nuclear ambitions in exchange for sanctions relief.

    While the new sanctions are unilateral, many companies, including Japan’s Inpex, already appear to be bowing to Washington’s pressure and abandoning projects in Iran.

    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 sources said.

    It was not clear whether CNPC had received top government approval to do so. But such a move could further strain the tense trade relationship between Beijing and Washington.

    Reuters reported in December that a $1 billion deal signed last July gave the Chinese firm the option to take over Total’s stake if it left Iran.

    Since then, the Beijing-backed giant has conducted significant due diligence and planning, several high-level industry sources told Reuters.

    “The possibility of Total’s pullout is quite high now, and in that scenario CNPC will be ready to take it over fully,” said a senior state oil official with knowledge of the contract.

    An executive with direct knowledge of the project added that planning began “the day the investment was approved.”


    “CNPC foresaw a high probability of a reimposition of (U.S.) sanctions,” the executive said.

    All the sources spoke on condition of anonymity because they were not authorized to speak to media.

    Under the terms of the agreement to develop phase 11 of South Pars, CNPC could take over Total’s 50.1 percent stake and become operator of the project.

    CNPC already holds a 30 percent stake in the field, while Iranian national oil company subsidiary PetroPars holds the remaining 19.9 percent.

    So far, the Chinese oil giant, which already operates two oil fields in Iran, has spent about $20 million on planning to develop the field, the sources said.


    https://www.reuters.com/article/us-...project-if-total-leaves-sources-idUSKBN1IC0TE
     
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  7. Path-Finder

    Path-Finder SENIOR MEMBER

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    Unless EU can offer something substantial to petro dollar. Maybe petro euro is something in the working.
     
  8. BATMAN

    BATMAN ELITE MEMBER

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    It's a surprise to see US company working on Iranian gas fields.
    Who approved TOTAL deal on the first place?
     
  9. Big Tank

    Big Tank FULL MEMBER

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    Why aren't you surprised when CIA runs 150 Safe Houses all over Saudi Arabia? :rofl:
     
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  10. BATMAN

    BATMAN ELITE MEMBER

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    La La La aside, fact is that India strong ally of Iran?
    Whereas all Europe is still doing business with Iran, only those companies who are listed at US stock exchanges will consider to cut relations, only after the grace period... is it 6 months?
    When you see Chinese company on US stock exchange, it will also surrender... you know what happened to ZTE.

    Not so funny :(
     
  11. RPK

    RPK SENIOR MEMBER

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    Total S.A. is a French multinational integrated oil and gas company
     
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  12. BHarwana

    BHarwana ELITE MEMBER

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    TOTAL is french
    Bonjour
     
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  13. The SC

    The SC ELITE MEMBER

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    Total is a French Oil giant..
     
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  14. BATMAN

    BATMAN ELITE MEMBER

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    OK, this is why i wrote, i was surprised.
    Still, any company listed on US stock has to follow the US orders, be it Chinese or French.

    Thanks for the correction, i didn't read the letter in OP fully.
     
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  15. Cybernetics

    Cybernetics FULL MEMBER

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    Personally I wouldn't bet too much on China either, for the time being. At least not until 10-20 years later. China will help Iran in the background with its state owned companies like CNPC and transfer some technology but private firms would be reluctant due to desire to access the American market which will help make its own industrial upgrade to a certain degree.

    The reason I said not until 10-20 years later is because of industrial technology. This is around the time which China would have reached a level of industrial technology where all its core technologies would be independent but would still trade if there is an open market.

    In this world there are currently only 3-4 entities with the possibility of being independent in decision making in the long run: USA, China, EU, and Russia. This is due to ability to control its high end and core industrial technologies. Having bits and pieces only means that nation is bits and pieces of a bigger entity. All other nations are dominoes or like iron filings that will be realigned due the magnetic field of the core high technology industrial nations. Iran challenging the global order by itself makes the its best case scenario being isolated from the West's industrial system thus perpetuating a major capabilities and economic gap.

    When China completes its industrial upgrade, it will emerge on the geopolitical arena though there might be years of delay between capabilities and manifestation. Until then Iran will have to brave it alone with limited but continuous support from China.
    north-and-south-`oles-of-a-magnet-with-and-the-curved-magnetic-field-CE5TPF.jpg
     
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