Oil major Total to seek waiver if U.S. reimposes Iran sanctions – UAE newspaper
Total (TOTF.PA) CEO Patrick Pouyanne said on Sunday that the French oil and gas company would seek a waiver to continue the development of an Iranian gas field should the United States decide to reimpose sanctions. Last July, Total became the first Western energy firm to sign a deal with Iran since the easing of international sanctions in 2015, agreeing to develop Phase 11 of the South Pars offshore gas field with a total investment of $5 billion (3.59 billion pounds). Speaking in an interview with The National newspaper while on a visit to the United Arab Emirates, Pouyanne said Total's plans should be allowed to proceed because its agreement with Iran was awarded at a time when sanctions were not in place.
