China could lose deal in Iran’s South Pars gas field

China could lose a $4.7 billion contract to develop Iran’s giant South Pars gas field if delays on the project persist, an Iranian deputy oil minister said.
The warning comes as Iran’s oil minister, Bijan Zanganeh, has vowed to shake up the country’s largest industry, which has suffered years of decline thanks to mismanagement and the effect of international sanctions.
State-owned China National Petroleum Corp. was awarded a $4.7 billion project in South Pars in 2009, after international pressure forced France’s Total SA FP.FR +0.97% Total S.A. France: Paris €46.92 +0.45 +0.97% March 18, 2014 12:29 pm Volume : 1.22M P/E Ratio 12.58 Market Cap €109.37 Billion Dividend Yield 5.20% Rev. per Employee €1,767,340 03/15/14 Oil Company Total Faces Possib… 03/13/14 Heard on the Street: Waiting f… 03/10/14 New Iran Oil Deals Won’t Allow… More quote details and news

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