Total SA TOT 0.98% is having difficulty unloading its stake in a $5 billion natural-gas project in Iran to a Chinese partner, after stopping work on the project earlier this year due to U.S. sanctions. Iranian Oil Minister Bijan Zanganeh confirmed Monday that the French oil giant had left the project in the South Pars natural-gas field. Total had flagged in May that it planned to do so, ahead of a Nov. 4 deadline to divest itself from its stake in the project to comply with sanctions. The French company has concluded in recent weeks that it was unlikely to receive a U.S. exemption from sanctions, according to a Total staffer familiar with the matter. “I think it’s over,” the person said. “Now, how do we exit?” Total, according to people familiar with the matter, is holding talks to transfer its 50.1% stake to state-owned China National Petroleum Corp., […]