- Oil giant Total has pulled out of Iran and giant gas project, reports say
- French oil giant Total has officially left Iran and abandoned its deal to develop a giant natural gas field in the country, Iran’s oil minister reportedly told state television Monday, leaving the isolated republic to look for a replacement.
- “Total Iran has officially left the contract to develop the South Pars Gas project’s phase 11… the process to replace with another company is underway,” Bijan Namdar Zanganeh was quoted as saying, Reuters reported.
French oil giant Total has officially left Iran and abandoned its deal to develop a giant natural gas field in the country, Iran’s oil minister reportedly told state television Monday, leaving the isolated republic to look for a replacement.
“Total Iran has officially left the contract to develop the South Pars Gas project’s phase 11… the process to replace with another company is underway,” Bijan Namdar Zanganeh was quoted as saying, Reuters reported.
Total had already signaled that it could pull out of the Islamic republic, and its intention to develop part of the world’s largest gas field at South Pars, after the U.S. said it would reimpose sanctions on the country after pulling out of the 2015 nuclear deal in May.
Behrouz Mehri | Getty Images
A gas flame is seen through a bus window in the South Pars gas field facilities in the southern Iranian port of Assaluyeh on the shore of the Gulf on January 22, 2014.
The first series of sanctions were reinstated in early August and target the country’s automotive sector, issuance of debt and metals trade. But more are to come in November; these will hit Iran’s crucial oil sector, shipping industry and financial institutions.
Foreign companies like Total that have business dealings with Iran were told they could face secondary sanctions for doing business in the country, prompting a number to pull out. Maersk, Peugeot, GE, Boeing and Siemens have all cut ties with Iran in a bid to avoid U.S. sanctions, while Russian oil company Lukoil has also said it would put plans to pursue joint ventures with Iran on hold.
The collapse of the deal with Total to develop the South Pars gas project is a blow for major OPEC oil producer Iran. Total had signaled in May that it could pull out once it had assessed the ramifications of President Donald Trump’s decision to reimpose sanctions and if it was not granted a sanctions waiver.
Total CEO Patrick Pouyanne told CNBC in June that U.S. sanctions mean that “there’s not a single international company like Total who can work in any country with secondary sanctions. I don’t have the right. It’s just the reality of the world.”
Iranian officials had earlier suggested that China’s state-owned CNPC, which also has a stake in the South Pars project, could take over Total’s stake, lifting its interest to from 30 percent to more than 80 percent, Reuters reported Monday.
Separately, Iran’s foreign minister called for an accelerated effort from the European Union, one of the major supporters of the 2015 nuclear deal, to step up efforts to salvage the deal.
CNBC has asked Total to confirm the report but is yet to receive a response.
SN: I shall make a prediction. This fits into End Time Prophecy very well. I won’t be surprised if Russia takes the project and thereby gains a greater foothold in the Middle East Pro-Iran, Pro-Syria, Anti-Israel community. It appears Maersk Oil has something to do with Total and might simply transfer the contract. Mr. Putin may at times appear to be on the good side but his history belies a dark desire for the old Union of Soviet to retake ALL of Europe and then move on to “own” the Middle East. The silk road project between Russia and China is shaping up as planned and quickly. These leaders who are actually driven by Satan, want at very least for half the world to be under their totalitarian rule. Putin very certainly wants that territory and owning the gas pipeline there and selling the gas to Europe from there would benefit his plans.
Israel WILL make the biggest oil and gas strike you’ve ever heard of and that is coming soon. When it does, EVERYone will claim it is their oil and that Israel is really on land that belongs to old Trans-Jordan. The world will surround Israel for the battle that actually is between God and satan. Soon after, this entire miserable story will resolve into peace and God will return to His rightful place as ruler over all humanity as he was in 1 Samuel 8
1 Samuel 8 New International Version (NIV)
Israel Asks for a King
8 When Samuel grew old, he appointed his sons as Israel’s leaders.[a] 2 The name of his firstborn was Joel and the name of his second was Abijah, and they served at Beersheba. 3 But his sons did not follow his ways. They turned aside after dishonest gain and accepted bribes and perverted justice.
4 So all the elders of Israel gathered together and came to Samuel at Ramah.5 They said to him, “You are old, and your sons do not follow your ways; now appoint a king to lead[b] us, such as all the other nations have.”
6 But when they said, “Give us a king to lead us,” this displeased Samuel; so he prayed to the Lord. 7 And the Lord told him: “Listen to all that the people are saying to you; it is not you they have rejected, but they have rejected me as their king. 8 As they have done from the day I brought them up out of Egypt until this day, forsaking me and serving other gods, so they are doing to you. 9 Now listen to them; but warn them solemnly and let them know what the king who will reign over them will claim as his rights.”
10 Samuel told all the words of the Lord to the people who were asking him for a king. 11 He said, “This is what the king who will reign over you will claim as his rights: He will take your sons and make them serve with his chariots and horses, and they will run in front of his chariots. 12 Some he will assign to be commanders of thousands and commanders of fifties, and others to plow his ground and reap his harvest, and still others to make weapons of war and equipment for his chariots. 13 He will take your daughters to be perfumers and cooks and bakers.14 He will take the best of your fields and vineyards and olive groves and give them to his attendants. 15 He will take a tenth of your grain and of your vintage and give it to his officials and attendants. 16 Your male and female servants and the best of your cattle[c] and donkeys he will take for his own use. 17 He will take a tenth of your flocks, and you yourselves will become his slaves. 18 When that day comes, you will cry out for relief from the king you have chosen, but the Lord will not answer you in that day.”
19 But the people refused to listen to Samuel. “No!” they said. “We want a kingover us. 20 Then we will be like all the other nations, with a king to lead us and to go out before us and fight our battles.”
21 When Samuel heard all that the people said, he repeated it before the Lord.22 The Lord answered, “Listen to them and give them a king.”
Then Samuel said to the Israelites, “Everyone go back to your own town.”
God knew that a righteous King is a servant to his people. But an unrighteous ruler forces people to serve him! This is the problem we had then, and we are seeing the opposite in the USA Now!!!
While many are bantering politics saying that Mr. Trump is a bad man, we should note he is wealthy and needs nothing. His real estate firm continues to operate and profit him. He serves the citizens of the USA. Compare him to Obama and others before him. We served them and our people still serve the other politicians on Capitol Hill. This is backward thinking, an upside down life philosophy.
If you want a good life, follow God’s righteous way and seek to give rather than to get, to serve rather than be served.