CNPC Struggles To Finance Iran Gas Project

From Tehran Times

China National Petroleum Corp. or CNPC, the country’s largest energy producer, is struggling to finance an Iranian natural-gas project, but it has not pulled out, one Iranian official said Tuesday.

The Iranian official, along with a Chinese oil-company official, both refuted an Iranian report Sunday that said CNPC had pulled out of Iran”s offshore South Pars gas field after constant and prolonged delays in the project.

CNPC has had “some difficulties [developing the project],” the Iranian official said, adding that “it has not brought its financing.”

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