Total said earlier this month that it has $10 billion of capital employed in its U.S. assets. REUTERS/Charles Platiau
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French oil major Total said Friday the probability of winning an exemption from U.S. sanctions against Iran to continue a major gas field project was very faint. The energy giant had already warned that, unless Washington granted it a waiver, it would pull out of the South Pars 11 project which it started in July 2017, two years after Western powers signed a nuclear deal with Tehran prompting the return of many businesses to Iran.Iran's oil minister Wednesday gave Total 60 days to win a sanctions waiver from Washington before it would lose its stake in the multi-billion-dollar project.
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