(MENAFN) The sanctions Iran was hit with by the United States are considered as a massive challenge, as warned the chief executive of France's Total.
Chief executive Patrick Pouyanne expressed his anticipation for getting a waiver from the US to maintain its investment in an Iranian gas project.
President Trump decision to withdraw from the Iran nuclear accord was also criticized by Russia's Rosneft chief executive, saying that it might affect 5 percent of global oil production.
Takashi Tsukioka, the president of the Petroleum Association of Japan (PAJ), also said that Japanese oil refiners could spend some months to settle on a policy on Iranian crude purchases in response to the US sanctions.
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