News

Inpex, the Japanese state-backed energy group, is poised to relinquish its remaining share of Iran’s Azadegan oilfield as tightening economic sanctions threaten companies that do business with Tehran.

Inpex said it had not made a final decision and was still weighing its options. But Akihiro Ohata, Japanese trade and industry minister, said the company would pull out, calling the move “a business decision”.