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British giant oil economy strikes Iran[/size]
Twilight News
2 hours ago
British giant oil economy strikes Iran[/size]
Twilight News
2 hours ago
BP has suspended a joint gas field with Iran over the re-imposition of US sanctions on Tehran after Washington announced its withdrawal from the Iranian nuclear deal.
"BP has decided to postpone some planned work in the Rhum gas field in the North Sea as we seek to clarify the potential impact of the recent US government decisions on Iran," the British company said in a statement.
BP now has a 50 percent stake in the British North Sea gas field, while Iran Oil Co owns the other half.
The British company is selling its stake in the field to Sirica, a British energy company based in the North Sea.
The two companies are currently in discussions with the British and US authorities to clarify steps to be taken to ensure the continuation of the Rhum gas field. Sereka said it was still committed to the deal despite US sanctions.
BP operates the field under a grant license issued by the Office of Foreign Assets Control, the US Treasury Department's Enforcement Enforcement Division, which expires at the end of September this year.
BP discovered the field in the 1970s, but production was suspended in early 2000, with the United States and several European countries imposing sanctions on Iran over its nuclear program.
Following the announcement by US President Donald Trump to withdraw from the nuclear agreement and the return of sanctions on Tehran, many international companies announced their withdrawal from Iran, led by the French energy company "Total".
"BP has decided to postpone some planned work in the Rhum gas field in the North Sea as we seek to clarify the potential impact of the recent US government decisions on Iran," the British company said in a statement.
BP now has a 50 percent stake in the British North Sea gas field, while Iran Oil Co owns the other half.
The British company is selling its stake in the field to Sirica, a British energy company based in the North Sea.
The two companies are currently in discussions with the British and US authorities to clarify steps to be taken to ensure the continuation of the Rhum gas field. Sereka said it was still committed to the deal despite US sanctions.
BP operates the field under a grant license issued by the Office of Foreign Assets Control, the US Treasury Department's Enforcement Enforcement Division, which expires at the end of September this year.
BP discovered the field in the 1970s, but production was suspended in early 2000, with the United States and several European countries imposing sanctions on Iran over its nuclear program.
Following the announcement by US President Donald Trump to withdraw from the nuclear agreement and the return of sanctions on Tehran, many international companies announced their withdrawal from Iran, led by the French energy company "Total".
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