Rosneft has refused to work in Iran. It had planned to invest up to $ 30 billion with the Iranian National Oil Company. A year ago, the parties signed a roadmap for the implementation of strategic projects. It was "about a whole series of oil and gas fields", which will be implemented jointly with the Iranian partners. It was planned to produce up to 55 million tons per year.

But now Rosneft changed its mind to work in Iran because of American sanctions, the Vedomosti reported. The company now intends to focus on growth within Russia.

"Rosneft had no obligations to the Iranian side, the state-owned company didn’t invest any money, so there will be no losses," the Vedomosti's interlocutor said.

Because of the US sanctions, French Total has already left Iran. It was a member of the consortium for the development of South Pars with a share of 50.1%, which was bought by Chinese CNPC.

Rosneft isnot the first Russian company that refused to work in Iran: in early November, Zarubezhneft sold operator of projects for extraction of oil in Iran ZN-East to an enterprise belonging to the Energy Ministry - Promsyreimport.

All Russian major oil companies who were going to work in Iran have suspended negotiations. In particular, Lukoil, Gazpromneft and Tatneft.

Source: Rusmininfo   l   KeyFacts Energy Industry Directory: Rusmininfo