EnergyWatch

Total lands billion-dollar deal in Iran

After a slow start, western energy companies are now beginning their return to Iran. French utility Total has signed a billion dollar deal for a gas field, the first company in the west to do so since the sanctions were lifted early this year.

Photo: Vahid Salemi/AP/POLFOTO

Energy companies in the west are gradually returning to Iran after some of the sanctions against the oil-rich country were lifted at the beginning of this year.

In October, BP PLC announced that it had acquired its first Iranian oil transport and now a new, major deal shows that other European companies are headed in the same direction.

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