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Oil ministry officials said the deal to develop the South Pars gas field would be signed on Monday in Tehran, with Total getting a 50.1% stake.
China's CNPC would hold a 30% stake and Iran's Petropars 19.9%.
Total was planning to sign the contract several months ago, but decided to wait and see if the Trump administration in the US would re-impose sanctions on Tehran.
The country’s oil ministry announced the deal Sunday.
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Total and CNPC signed a “heads of agreement” with National Iranian Oil Co. in November to develop phase 11 of the South Pars gas field, a deal that was valued then at $4.8 billion. Total Chief Executive Officer Patrick Pouyanne will be in Tehran for the signing of the formal agreement, Parastoo Younchi, the Iranian oil ministry official in charge of foreign media relations, said Sunday.
Iran holds the world’s biggest gas reserves, estimated by BP Plc at 1,183 trillion cubic feet (33 trillion cubic meters), and is the third-biggest oil producer in the Organization of Petroleum Exporting Countries.
The producer is wooing companies such as Total, Royal Dutch Shell Plc and Russia’s Lukoil PJSC to invest in its oil and gas fields to boost output. Its oil production climbed 33 percent last year after sanctions related to its nuclear program were eased in January 2016, according to data compiled by the Bloomberg.
The writer is a staff member. He has been affiliated with Pakistan's leading English newspapers and worked as News Producer at FM 107.4. Death (as...he believes...life is a station, and death is a longest journey from seen to ...
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on May 29, 2023 (Monday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 307.9 | 311.15 |
Euro | EUR | 330 | 333 |
UK Pound Sterling | GBP | 381 | 384.5 |
U.A.E Dirham | AED | 84.6 | 85.4 |
Saudi Riyal | SAR | 82.6 | 83.4 |
Australian Dollar | AUD | 201 | 203 |
Bahrain Dinar | BHD | 762.21 | 770.21 |
Canadian Dollar | CAD | 225.5 | 227.5 |
China Yuan | CNY | 40.6 | 41 |
Danish Krone | DKK | 41.39 | 41.78 |
Hong Kong Dollar | HKD | 36.6 | 36.95 |
Indian Rupee | INR | 3.47 | 3.58 |
Japanese Yen | JPY | 2.15 | 2.20 |
Kuwaiti Dinar | KWD | 932.2 | 941.2 |
Malaysian Ringgit | MYR | 62.42 | 63.02 |
New Zealand Dollar | NZD | 176.98 | 178.98 |
Norwegians Krone | NOK | 26.14 | 26.44 |
Omani Riyal | OMR | 744.58 | 752.57 |
Qatari Riyal | QAR | 78.73 | 79.43 |
Singapore Dollar | SGD | 215 | 217 |
Swedish Korona | SEK | 26.73 | 27.03 |
Swiss Franc | CHF | 316.34 | 318.84 |
Thai Bhat | THB | 8.28 | 8.43 |
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 235,800 on Monday. The price of 10 grams of 24k gold was recorded at Rs202,160.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
City | Gold | Silver |
Lahore | PKR 235,800 | PKR 2,505 |
Karachi | PKR 235,800 | PKR 2,505 |
Islamabad | PKR 235,800 | PKR 2,505 |
Peshawar | PKR 235,800 | PKR 2,505 |
Quetta | PKR 235,800 | PKR 2,505 |
Sialkot | PKR 235,800 | PKR 2,505 |
Attock | PKR 235,800 | PKR 2,505 |
Gujranwala | PKR 235,800 | PKR 2,505 |
Jehlum | PKR 235,800 | PKR 2,505 |
Multan | PKR 235,800 | PKR 2,505 |
Bahawalpur | PKR 235,800 | PKR 2,505 |
Gujrat | PKR 235,800 | PKR 2,505 |
Nawabshah | PKR 235,800 | PKR 2,505 |
Chakwal | PKR 235,800 | PKR 2,505 |
Hyderabad | PKR 235,800 | PKR 2,505 |
Nowshehra | PKR 235,800 | PKR 2,505 |
Sargodha | PKR 235,800 | PKR 2,505 |
Faisalabad | PKR 235,800 | PKR 2,505 |
Mirpur | PKR 235,800 | PKR 2,505 |
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