MIDDLE EAST: France, can't ignore Iran energy deals

Iran's oil minister yesterday brushed aside calls by Paris for French firms to avoid Iranian energy deals, saying the world's fourth largest oil producer was too attractive for them to ignore.

France, which has been taking a leading role in calling for more sanctions to isolate Iran over its nuclear ambitions, has urged energy companies Total and Gaz de France to refrain from investing in the Opec member.

"Iran's (energy) reserves and its market are too attractive for the French to give up," caretaker Oil Minister Gholamhossein Nozari said.

Iran has the second largest gas reserves after Russia and the second biggest oil reserves after Saudi Arabia.

Total is considering investing in a multi-billion-dollar gas project in Iran but says a decision is still some way off. It has cited spiralling costs and geopolitical concerns.

Several big French firms, including carmaker Renault, have business dealings and investments in Iran.


Via: Gulf Daily News,,,,,,,,,