South Pars gas field

2019-02-11 20:35

Iraq rebuffs U.S. demands to stop buying energy from Iran

Iraqi Parliament Speaker Mohammed al-Halbusi has reiterated his country’s opposition to sanctions imposed by the United States against Iran.

2018-12-25 21:09

Iran’s petrochemical plants fully operational during cold season

TEHRAN – With South Pars gas field’s new phases going operational, the required feedstock for all the country’s petrochemical plants will be supplied during the cold season and none of them will stop production, Shana reported quoting an official with the National Petrochemical Company (NPC).

2018-12-15 21:55

Trump’s Iran sanctions create a triple threat to the West

The South Pars gas field in the Persian Gulf was an offshore discovery that, for oilmen, is the stuff of dreams. The largest natural gas field in the world, it stretches across the maritime border between Iran and Qatar. American economic sanctions, however, had kept it off-limits to Western energy companies for years. When the U.S. and other world powers negotiated the 2015 nuclear deal, that unlocked the potential bounty. The French oil giant Total soon signed a deal to help develop a key portion of the field and started work last year. Then Donald Trump was elected. His administration pulled out of the deal and, in late November, imposed severe economic penalties—again. Facing the threat of “secondary sanctions”—U.S. sanctions on any foreign companies doing business in Iran—Total withdrew from the South Pars, deciding, as many European companies have, that access to the U.S. market remains more important than deals in Iran. In Total’s wake, though, came the China National Petroleum Corp., a state-owned giant based in Beijing. “It’s a gift to China,” says a longtime Total adviser not authorized to speak publicly, “and a self-inflicted wound for the West.”