The US has been seeking to cut off investment in Iran’s energy sector as part of an economic pressure campaign that China has criticised. Photo: Reuters

Chinese oil giant CNPC may be latest to bow to US sanctions on Iran

  • Iranian minister on Sunday said the state-owned company had pulled out of US$5 billion South Pars field deal
  • It comes after six Chinese companies and five executives were sanctioned by the US for transporting oil out of Iran
Topic |   US-China relations

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The US has been seeking to cut off investment in Iran’s energy sector as part of an economic pressure campaign that China has criticised. Photo: Reuters
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China National Petroleum Corp has pulled out of a deal to develop Iran’s South Pars field. Photo: AP

Chinese state oil firm withdraws from US$5 billion deal to develop Iranian natural gas field, Tehran says

  • South Pars field agreement, struck after Iran’s 2015 nuclear pact, appears to be latest business casualty of US pressure campaign on Tehran
  • French oil company Total SA pulled out of project earlier due to US sanctions on Iran
Topic |   China economy

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China National Petroleum Corp has pulled out of a deal to develop Iran’s South Pars field. Photo: AP
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