Russia’s Rosneft quits Iran, $30B of potential joint investments

In November last year, Rosneft and the National Iranian Oil Company (NIOC) signed a road map for strategic cooperation in oil and gas in Iran—cooperation which Rosneft’s chief executive Igor Sechin said would involve a total of US$30 billion of investments. At the time, Russian media quoted Sechin as saying that the parties could soon sign several binding agreements, and the total production from those projects could be up to 55 million tons of oil equivalents annually, equal to 1.1 million boepd.

Now Rosneft has reconsidered its involvement in Iran, due to the US sanctions on Iranian oil and due to a change in Rosneft’s strategy to focus on growing production in Russia, according to Vedomosti’s sources, Russian business daily Vedomosti reported, quoting three sources close to Rosneft’s top management.

https://armaneghtesadi.com/en/18800/2018/12/17/russias-rosneft-quits-iran-30b-of-potential-joint-investments/

China’s CNPC halts Iran gas investment under U.S. pressure

State-controlled China National Petroleum Corporation (CNPC) has suspended investment in the giant South Pars gas field in Iran, following pressure from the United States and in an attempt to steer clear of U.S.-China tensions amid the ongoing trade talks, Reuters reported last week, quoting three Chinese state oil executives.

“China sees the relationship with the U.S. as paramount over anything else. As a state-owned entity CNPC will stay clear of bringing any unwanted trouble into this relationship as the U.S. China trade talks are under way,” an official familiar with CNPC’s global strategy told Reuters.

https://www.indoasiancommodities.com/2018/12/17/chinas-cnpc-halts-iran-gas-investment-u-s-pressure/

South Korea imports no Iran oil in November despite sanctions waiver

SEOUL: South Korea did not import any Iranian oil for the third straight month in November, customs data showed on Saturday, even though it has a waiver from sanctions targeting crude supplies from the Middle Eastern country.

South Korea and seven other countries were in early November granted temporary waivers from US sanctions that kicked in that month over Tehran’s disputed nuclear program.

But it kept imports at zero as buyers have been in talks with Iran over new contracts, with industry sources previously saying they expected arrivals to resume in late January or February.

http://www.arabnews.com/node/1421421/business-economy

>>4351405

might want to add:

>>4351398

>>4351414

>>4351433

>>4351469

sure thing.

see you on the next_

>>4351495

aye

will add those 4 articles on next bread.