Patrick Pouyanné, the CEO of Total France, stated that if the U.S. imposes unilateral sanctions against Iran, the company will continue its gas project in the Islamic Republic. He mentioned in an interview with 'International Oil Daily' on Tuesday, October 17, that Total is awaiting the consequences of Donald Trump's decision, and if laws require the company to leave Iran, it will comply and exit the South Pars Phase 11 project. Pouyanné further stated that if Iran adheres to the nuclear agreement, and Europe, China, and Russia also believe that the JCPOA remains in effect, the U.S. will be forced to impose unilateral sanctions against Iran, and they will reassess the situation. In July of this year, Iran signed a $4.8 billion contract with a consortium led by Total for the development of South Pars Phase 11. In this project, Total holds a 51% stake, CNPC holds 30%, and the Iranian company Petropars has a 19% stake. The Total CEO added, 'We will do our best to calmly continue the project, and this project is a priority for the company. We need to see what kind of sanctions Congress will impose. Our effort is to continue the project, but if it is truly not feasible, there is nothing we can do.' Concurrently with Pouyanné's remarks, Reuters reported that an Iranian official stated that the Islamic Republic still hopes to sign 10 oil contracts with foreign companies by the end of the current solar year. Amir Hossein Zamaninia, Iran's Deputy Oil Minister, told Reuters that Trump's hardline approach towards Iran will have 'little impact' on Iran's plans to develop oil fields and attract foreign investment. Trump, who on October 14 refused to certify Iran's compliance with the nuclear agreement, has repeatedly criticized European companies for their involvement in Iran's energy projects. Zamaninia further stated that Trump's decision not to certify Iran's compliance with the nuclear agreement did not surprise Iran or its partners and that this issue would not significantly affect Iran's oil plans.
Total: We Will Strive to Remain in Iran
Total's CEO announced the company's intention to continue its gas project in Iran despite potential U.S. sanctions. The Iranian government remains optimistic about signing new oil contracts with foreign companies. This situation highlights the ongoing tension between U.S. foreign policy and Iran's economic ambitions.
👥 Key Players
⚡ Actions
📰 What Happened
Total CEO states company will strive to remain in Iran despite potential US sanctions.
- Patrick Pouyanné announce Total, Iran
- United States sanction Iran
- Iran negotiate foreign companies
💡 Why It Matters
📚 Background
Total's commitment to remain in Iran underscores the complexities of international energy investments amid sanctions.
📝 Key Evidence
🏷️ Entities Mentioned
Translated from the original and edited for English readers. View original source →
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