CNPC shelves South Pars investment: report

Iran

SINGAPORE, December 12, 2018 – China’s CNPC has put investment in the South Pars project in Iran on hold, international media reported on Wednesday.

The news came weeks after Iranian officials announced that CNPC would be taking over Total’s share of the project after the super-major pulled out under pressure from US sanctions on Iran.

“China sees the relationship with the USA as paramount over anything else,” an anonymous Chinese industry source told Reuters. “As a state-owned entity CNPC will stay clear of bringing any unwanted trouble into this relationship as the USA-China trade talks are under way.”

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