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French oil major Total's Iran gas deal in limbo after Trump dumps nuke deal

Total signed a deal with Tehran in July 2017 to develop phase 11 of Iran's South Pars field with an initial investment of $1 billion, marking the first major Western energy investment in the Islamic

Reuters  |  Paris 

U.S. President Donald Trump's decision on Tuesday to pull out of the Iran nuclear accord and reinstate tough economic sanctions could scupper French oil major Total's multibillion-dollar gas project in the country unless it can secure a waiver. Total signed a deal with Tehran in July 2017 to develop phase 11 of Iran's South Pars field with an initial investment of $1 billion, marking the first major Western energy investment in the Islamic Republic since the lifting of sanctions. However, Trump described the nuclear agreement that made such an investment possible as ...

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First Published: Wed, May 09 2018. 08:22 IST
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