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Source: https://www.ft.com/content/b73c0e9e-ce7b-11e6-b8ce-b9c03770f8b1
BP Opts Out of Iran Deals
(Financial Times-UK) Andrew Ward - British Petroleum (BP) has opted out of the first wave of agreements to develop oil and gas reserves in Iran after the lifting of international sanctions. Iran has struck a series of deals with foreign energy groups in recent weeks, including Total of France and Royal Dutch Shell. However, people briefed on the matter said that the continued existence of some U.S. sanctions against Iran - and the prospects of a hardline stance against Tehran by the Trump administration - were particular deterrents for BP. Although based in the UK, about 40% of BP shareholders and 30% of its employees are American. U.S. citizens are barred from commercial activities in Iran under Washington's bilateral sanctions against Tehran.