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Iran: Total signals withdrawal

French oil major Total has signalled it may withdraw from Phase 11 of the South Pars offshore natural gas field. In a statement issued on 16 May the firm said that, in light of the impending US sanctions, it will have to unwind its operations in Iran before 4 November unless it is granted a specific project waiver by the US authorities, which would give it protection from any sanctions.

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African Energy Gulf States Newsletter