Considering the belligerent and irrational stance of France, Iran will reconsider its economic ties with that country, an Iranian parliament’s presiding board member said here on Wednesday.

The government of Iran may reconsider its multi-billion-dollar liquefied natural gas agreement with French oil and gas company Total, which would have seen the firm develop the South Pars Gas Field in Iran, Iran’s acting oil minister was quoted as saying.

Iran privatized 12 petrochemical companies in the past Iranian calendar year (ended March 20, 2007), accounting for 35 percent of the sector’s subsidiaries, the National Petrochemical Company (NPC) reported here on Tuesday.