{"id":17554,"date":"2016-02-09T12:07:20","date_gmt":"2016-02-09T17:07:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17554"},"modified":"2016-02-09T12:07:35","modified_gmt":"2016-02-09T17:07:35","slug":"iran-signs-oil-deal-with-total-deal-done-in-euros","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17554","title":{"rendered":"Iran Signs Oil Deal With Total, Deal Done In Euros"},"content":{"rendered":"

Iran Signs Oil Deal With Total, Deal Done In Euros<\/a><\/h3>\n
As Airbus and Peugeot finally return to post-sanctions Iran, the trade-off is Iranian oil, with French Total SA taking the plunge in an agreement to buy up to 200,000 barrels per day of Iranian crude–but the catch is that\u00a0sales will be in euros.<\/a><\/div>\n
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Deals signed just over a week ago when Iranian President Hassan Rouhani met his French counterpart, Francois Hollande, in Paris included some\u00a020 agreements<\/a>\u00a0and a $25-billion accord under which Iran will purchase 73 long-haul and 45 medium-haul Airbus passenger planes to update its ageing fleet. Carmaker Peugeot\u2014which was forced to pull out of Iran in 2012–also agreed to return to the Iranian market in a five-year deal worth $436 million.<\/p>\n

In the reverse flow of the new deal, Total has agreed to buy between 150,000 and 200,000 barrels of Iranian crude a day, with company officials also noting that Total would be looking at other opportunities as well in oil, gas, petrochemicals and marketing.<\/p>\n

According to Iranian media<\/a>, Total will start importing 160,000 barrels per day in line with a contract that takes effect already on 16 February.<\/p>\n

Related:\u00a0Despite Bold Predictions, T. Boone Pickens Sells All Oil Holdings<\/strong><\/a><\/p>\n

Total never really left Iran, though. While it\u00a0stopped<\/a>\u00a0all oil exploration and production activities there in 2010, making it one of the last to withdraw, it still maintained an office there.<\/p>\n

Since 1990, Total has been a key investor in Iranian energy, playing a role in the development of Iran’s Sirri A&E oil and South Pars gas projects. Sanctions also halted its planned involvement in the LNG project linked to Iran\u2019s South Pars Phase 11.<\/p>\n

But Total\u2019s work in Iran hasn\u2019t been without its problems\u2014even without sanctions.<\/p>\n

In May 2013, Total agreed to pay\u00a0$398.2 million<\/a>\u00a0to settle U.S. criminal and civil allegations that it\u00a0paid bribes<\/a>\u00a0to win oil and gas contracts in Iran.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Iran Signs Oil Deal With Total, Deal Done In Euros As Airbus and Peugeot finally return to post-sanctions Iran, the trade-off is Iranian oil, with French Total SA taking the plunge in an agreement to buy up to 200,000 barrels per day of Iranian crude–but the catch is that\u00a0sales will be in euros. Deals signed […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[12294,184,6532,334,2578,441,5332,2510,626,839],"class_list":["post-17554","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-charles-kennedy","tag-crude-oil","tag-euros","tag-francois-hollande","tag-hassan-rouhani","tag-iran","tag-oilprice-com","tag-paris","tag-petrodollar","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17554"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17554\/revisions"}],"predecessor-version":[{"id":17556,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17554\/revisions\/17556"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}