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Iran's oil minister says Total will not pay penalty if it quits - Mehr

Reuters

LONDON (Reuters) - Total <TOTF.PA> will not pay a penalty if it pulls out of a multi-billion-dollar gas project in Iran, Iran's oil minister said on Wednesday, adding that the French company would not be able to retain its investment in Iran until the project ends.

"They did not say they will pull out. They meant Total might not be able to continue its activities in Iran," Bijan Zanganeh was quoted as saying by Mehr news agency.

(Reporting by Bozorgmehr Sharafedin; Editing by Elaine Hardcastle)