Iran oil minister: Frances oil giant Total pulls out of Iran
Iran's oil minister says France's oil giant Total SA has pulled out of Iran after cancelling its $5 billion, 20-year agreement to develop the country's massive South Pars offshore natural gas field over renewed US sanctions.
The parliament's website ICANA.ir quoted Oil Minister Bijan Zanganeh as saying on Monday that since Total first announced its decision a while ago, Iran has been in the process of "looking for an alternative" to Total. He didn't elaborate.
