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[New York Times ] David Jolly - Total, the French oil giant, has decided to back away from planned investments in Iran because of political uncertainty, a company official said Thursday. Total's withdrawal from the country, including a planned huge gas project in the South Pars gas field, makes it the last major Western oil company to give up on Iran amid pressure from Washington. Total's partners on the project - Royal Dutch Shell, the largest European oil company, and Repsol of Spain - pulled out in May. The announcement came after Rep. Howard L. Berman (D-Calif.), chairman of the House Foreign Affairs Committee, called Wednesday on Washington and Brussels to punish companies that invest in Iran. 2008-07-11 01:00:00Full Article
French Oil Giant Cancels Gas Field Project in Iran
[New York Times ] David Jolly - Total, the French oil giant, has decided to back away from planned investments in Iran because of political uncertainty, a company official said Thursday. Total's withdrawal from the country, including a planned huge gas project in the South Pars gas field, makes it the last major Western oil company to give up on Iran amid pressure from Washington. Total's partners on the project - Royal Dutch Shell, the largest European oil company, and Repsol of Spain - pulled out in May. The announcement came after Rep. Howard L. Berman (D-Calif.), chairman of the House Foreign Affairs Committee, called Wednesday on Washington and Brussels to punish companies that invest in Iran. 2008-07-11 01:00:00Full Article
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