Wednesday, 23 May, 2018

Total unable to continue the South Pars 11 project in Iran

EU energy and climate commissioner Miguel Arias Cañete EU energy and climate commissioner Miguel Arias Cañete
Jean Garcia | 17 May, 2018, 00:35

French oil and energy company Total said on Wednesday that may pull out of the Iran South Pars 11 energy project, in light of a decision by US President Donald Trump to withdraw from an global nuclear deal with Iran.

In a statement, Total said it "will have to unwind all related operations" before November 4, unless it's granted a specific waiver by U.S. authorities that would protect it against sanctions.

Total's decision comes after President Donald Trump announced last week that he was pulling the United States out of a landmark 2015 nuclear deal with Iran and reintroducing sanctions.

Siemens CEO Joe Kaeser told CNN this week that Trump's decision meant his company could not do any new business in Iran.

USA banks are involved in more than 90 percent of Total's financing operations, while US shareholders represent more than 30 percent of its shareholding, according to the company.

The project waiver should include protection of the Company from any secondary sanction as per US legislation, it added. SP11 is a gas development project dedicated to the supply of domestic gas to the domestic Iranian market and for which Total has voluntarily implemented an IRGC-free policy for all contractors participating in the project, thereby contributing to the worldwide policy to restrain the field of influence of the IRGC. Furthermore, considering the various growth opportunities which have been captured by Total in recent months, Total confirms that a withdrawal from SP11 would not impact its production growth target of 5% CAGR between 2016 and 2022.

Sporting fans in brutal attack on players, manager
Sporting has issued a statement condemning what it calls "acts of vandalism and the attacks on (our) athletes, coaches and professional staff".

Companies are starting to take matters into their own hands as European and some other governments struggle to save the Iran deal.

Supporters of the deal, which lifted earlier sanctions on the Islamic Republic in exchange for it curbing its nuclear ambitions, need to find a way to reassure companies that their investments are beyond Washington's extra-territorial reach.

Iran's energy ministry predicted a year ago that the Total-led project would eventually produce tens of billions of dollars worth of gas products.

"We have a situation where there is a will to impose sanctions on Europeans and a resentment towards European companies who are now being accused of supporting a terrorist state".

Iran has said it may start enriching uranium again if it can no longer see any economic benefit from sticking to the deal. "With that in mind it's a logical decision".

Recommended

  • CBS looks back for its reboot-heavy new TV season

    CBS looks back for its reboot-heavy new TV season

    CBS has officially revealed its TV lineup for fall 2018 , its first in years that will not feature Thursday Night Football. The show is being produced by Emmy Award victor Dick Wolf and the team behind the "Law & Order" franchise.
    Barcelona to Play Mamelodi Sundowns in Mandela Centenary Cup

    Barcelona to Play Mamelodi Sundowns in Mandela Centenary Cup

    Denis Suarez rattled the woodwork with a header as Barcelona constantly threatened and turned over two goals ahead. Leaders from across the world were in South Africa for his funeral.
    Brussels looks to protect European Union  companies after Trump quits Iran deal

    Brussels looks to protect European Union companies after Trump quits Iran deal

    The senior official said that European Union should be grateful to Trump as he helped the bloc get rid of its illusions. In a letter to his European colleagues ahead of a summit Wednesday evening, Tusk doubled down on his convictions.
  • Bumrah trumps Rahul, Mumbai seal thriller

    Bumrah trumps Rahul, Mumbai seal thriller

    With only one win in their next six matches, Punjab are in the bottom half of the points table for the first time this season. Suryakumar Yadav has been in fine form for the defending champions, and he will be eager for more runs in the must-win clash.
    Will the next Star Wars spin-off focus on Lando?

    Will the next Star Wars spin-off focus on Lando?

    We receive a little taste of it within the Lando Marvel Comics series, which is second only to both Darth Vader run. If you are late to the party, you definitely need to check it out .
    Bills to retire Thurman Thomas' number

    Bills to retire Thurman Thomas' number

    Thomas played a major role on a Bills team that appeared in the Super Bowl on four consecutive occasions in the early 1990s. The team announced Wednesday that it was retiring the jersey No. 34 worn by Hall of Fame running back Thurman Thomas.
  • Diego Maradona will continue his career in Belarus

    Diego Maradona will continue his career in Belarus

    Maradona, who most recently managed UAE second-division side Fujairah, will be taking over football operations. With him in charge the Brest-based team won the Super Cup and qualified for the final of Belarus' Cup.
    Crude gains as Israel and Iran clash after Trump's sanctions move

    Crude gains as Israel and Iran clash after Trump's sanctions move

    Since the Iran nuclear deal came into effect, Iranian oil output increased from 2.7 million to 3.8 million barrels per day. In the past, sanctions against Iran have cut the country's crude exports by around 1 million barrels a day.
    Intel SSDs banned from Windows 10 update

    Intel SSDs banned from Windows 10 update

    The obvious solution to fix this problem is to simply uninstall the updates while waiting for Microsoft to release a hotfix. Whenever systems running an Intel SSD install the new Windows 10 April 2018 Update their machines crash.
  • Michigan State settles with Larry Nassar victims for $500 million

    Michigan State settles with Larry Nassar victims for $500 million

    MSU offiicals said the school will pay the settlement from its budgets and then sue insurance companies to recoup the costs. The school ultimately sided with Nassar, concluding that his "pelvic floor" treatments were medically appropriate.
    Chinese OnePlus 5 and OnePlus 5T Get Updated To Android 8.1 Oreo

    Chinese OnePlus 5 and OnePlus 5T Get Updated To Android 8.1 Oreo

    The user interface is getting a face-lift, the timing will be more accurate, and there are some other general fixes for bugs. With the new update, OnePlus Switch will now explain the user the logic behind the time remaining for the transfer of data.
    Italy's 5-star, League finish policy programme, pass to leaders

    Italy's 5-star, League finish policy programme, pass to leaders

    But the two parties may disagree on how to put their policies into action, with Five Star looking less ready than Lega to an open war.

BSNL takes on Reliance Jio with Rs 118 prepaid unlimited data plan BSNL takes on Reliance Jio with Rs 118 prepaid unlimited data plan Apart from this, the BSNL signature caller tune will automatically get activated for free post recharge of the pack. There is free roaming and national calls available in the pack alongside 300 national SMS in home and roaming.

Turkish Banker Gets 32 Months in Prison Following Iranian-Sanctions Conviction Turkish Banker Gets 32 Months in Prison Following Iranian-Sanctions Conviction The trial, which ended in January, had featured testimony about corruption at the highest levels of the Turkish government. The time he spent behind bars will be deducted from the total sentence, meaning he will be free after 18 months.

Conservative scholar's parting shot in school's anti-gun insurance policies goes viral Conservative scholar's parting shot in school's anti-gun insurance policies goes viral The university has a full-time, certified police force of more than 30 sworn officers who protect the campus. She explained that now that she's a graduate of the university, "I can finally arm myself on campus".

BT Plus will grant you unlimited mobile data when your Wi-Fi goes down BT Plus will grant you unlimited mobile data when your Wi-Fi goes down BT is also boosting the power of its public Wi-Fi - the UK's largest public Wi-Fi estate, with more than 12,000 premium hotspots offering.

Design Patent Battle Revives Between Samsung and Apple Design Patent Battle Revives Between Samsung and Apple Apple wants Samsung to cough up a whopping $1 billion in damages for infringing iPhone design patents. Samsung has argued that consumers have other reasons to buy a phone other than its original design.

Meghan Markle's father to not attend Royal Wedding after staged photoshoot fiasco Meghan Markle's father to not attend Royal Wedding after staged photoshoot fiasco Distraught bride-to-be Meghan is said to be "standing by" her father after he admitted staging pictures for the photographers. She said reporters had also harassed him at his home and that he recently suffered a heart attack.

Pochettino in line to replace Antonio Conte Pochettino in line to replace Antonio Conte The Blues are widely expected to part ways with Conte in the aftermath of Saturday's FA Cup Final against Jose Mourinho's Man Utd. I think the style of play is something that suits me and the players we have.

Trump discloses payment to Cohen in financial form Trump discloses payment to Cohen in financial form Citizens for Responsibility and Ethics in Washington has contended that Trump should have reported the reimbursement past year . Trump's latest disclosure filing said Cohen incurred the expense in 2016 and that Cohen "sought reimbursement" in 2017.

Shenmue III delayed to 2019, act surprised Shenmue III delayed to 2019, act surprised We first heard of Shenmue 3 was back in 2015, when Deep Silver launched a Kickstarter campaign to fund the title. So any extra time that can be used to deliver the best quality game is a positive, in my eyes.

IPL 2018: Kuldeep Yadav reveals plan behind getting Jos Buttler's wicket IPL 2018: Kuldeep Yadav reveals plan behind getting Jos Buttler's wicket His first dismissal was that of Ajinkya Rahane , who displayed a poor shot selection and was castled playing a reverse sweep. Rahane missed the line and got castled and Buttler top-edged Kuldeep to Scanterbury-Searles on the edge of the circle.

Battlefield V Live Reveal to Happen on May 23rd Battlefield V Live Reveal to Happen on May 23rd Be sure to stay tuned to DualShockers next week as we'll be reporting on all the latest Battlefield V news as it develops. The event is still scheduled for May 23rd at 1 PM EST and will be livestreamed on YouTube , Twitch , and Mixer .

Lachlan Murdoch to be Chairman/CEO at 'New Fox' Lachlan Murdoch to be Chairman/CEO at 'New Fox' However, James Murdoch will not walk away empty-handed. "I look forward to joining Lachlan as we begin to establish new Fox". The current chief financial officer of Fox, John Nallen , will be assuming a broader role as the chief operator officer.

Texas, Alabama Football Teams Schedule Home & Home Series Texas, Alabama Football Teams Schedule Home & Home Series Texas (898/2nd NCAA) and Alabama (891/5th NCAA) have combined to play 248 years of football and post 1,789 all-time victories. APNewsNow.Texas and Alabama, which last met in 2010 Rose Bowl, will play each other in 2022 and 2023.

Macy's Inc (M) Stock Surges on reporting First Quarter 2018 Earnings Macy's Inc (M) Stock Surges on reporting First Quarter 2018 Earnings During the quarter, Macy's also made $24 million in gains on real estate sales and spent $19 million winding down Macy's China. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Macy's by 22.6% in the fourth quarter.

Man dies of 'projectile wound of the head' after vape pen explodes Man dies of 'projectile wound of the head' after vape pen explodes And in 2016, a vape pen user in NY suffered third-degree burns after the pen exploded in his trousers , NBC 4 NY reported. Bill Pellan, director of Investigations at the Pinellas County Medical Examiner's Office , confirmed the report to WFTS.