Sources: CNPC Suspends Investment in Iran's SP Phase 11 after US Pressure

published:13/12/2018 05:23 GMT

China National Petroleum Corp (CNPC) has suspended investment in Iran’s South Pars natural gas project ( SP Phase(s) 11 ) in response to U.S. pressure and to minimize tensions amid trade talks between Beijing and Washington, three Chinese state oil executives said. South Pars is the world’s largest gas field and CNPC’s investment freeze is a blow to Tehran’s efforts to maintain financing for energy projects amid the re-imposition of U.S. sanctions on its energy sector earlier this year. Iran...More