Iran has terminated China National Petroleum Corp’s (CNPC) contract to develop the Azadegan oil field after the state-owned Chinese player ignored appeals to work on the project, according to reports. CNPC signed up to develop the Iranian field after Japanese and European companies pulled out due to sanctions in the middle of the last decade. In 2010, Beijing instructed Chinese energy companies to slow or stop work in Iran, because China wanted to strengthen ties to the US energy sector and feared dealing with Tehran would jeopardise those plans, said Iranian news agency Shana.
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