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All tagged total
◢ In a major interview given to French newspaper Le Monde, Total CEO Patrick Pouyanné was asked about the “American threat” to the company’s “important gas project” in Iran.
◢ Pouyanné’s forthright response marks perhaps the first time that a major European executive has publicly called for a diplomatic intervention to protect commercial interests in Iran. He points to the 1990s blocking statutes and sanctions waivers as a potential tool in the current environment.
◢ In a series of tweets published on Tuesday, Total's press office pushed back on reports that the company is rethinking its Iran strategy in light of pressure from the United States.
◢ The tweets emphasize that Total CEO Patrick Pouyanné sees no political barriers to the South Pars gas deal, and is simply waiting to see whether following Congressional action legal conditions will allow the deal to move forward.
◢ On Monday, Total will sign a long-awaited USD 5 billion deal to develop Iran's South Pars gas field, becoming the first international oil company to commit to a post-sanctions investment.
◢ The Total deal indicates rising confidence that political and banking challenges can be addressed, and the contract signing will likely buoy investor confidence across sectors.
◢ A preliminary agreement between OMV and Dana Energy heralds the push for privatization in Iran's oil and gas sector
◢ While the majority of contracts have been signed with state-owned oil firms, the new IPC framework enforces structures and management practices that support privatization
