Thursday, September 30, 2010

Three Very Large, Important Oil Companies Quit Iran

Wow. Everybody but China seems to be falling in line on isolating Iran. I don't where the credit for this lies. I hope with Obama, I want to see him do something right, but, alas, does The One really have sway over French, Anglo-Dutch, and Italian oil companies?? Doubtful, but anything's possible, maybe he told them, "do this for me and if you happen to spill some oil in the GoM within the next two years, I won't bend you over for $20 billion."

Iran: Total, Shell, Eni Pledge To End Investments In Energy Sector
September 30, 2010
Total SA of France, Statoil ASA of Norway, Italy’s Eni SpA and the Netherlands’ Royal Dutch Shell Plc have vowed to end their investments in Iran’s energy sector, Bloomberg reported Sept. 30, citing U.S. Deputy Secretary of State James Steinberg. He said the pledge means these companies are eligible to avoid U.S. sanctions. The U.S. also announced that it is imposing sanctions against Naftiran, an Iranian energy-trading company operating in Switzerland. Reuters reported that Steinberg said the company will be prohibited from receiving export assistance from the U.S. Export-Import Bank and block the company from procurement contracts with the U.S. government.


Blogger Richard said...

Speaking of China's paternalism toward Iran, I wonder if this ( might be somehow related.

3:56 PM  

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