Thursday, October 28, 2010

BP (NYSE:BP) Not Clear Yet on Continuing Venture with Iran in North Sea

Unsure of what its requirements are in its joint venture with Iranian Oil Co. U.K. Ltd., BP (NYSE:BP) asking for a ruling and guidance on how to proceed.

The European Union announced sanctions against Iran because of its perceived pursuit of a nuclear policy which includes weapons-grade uranium, that could be made into a potent bomb.

Sanction have been put in place which regulate business in such a way as to not allow the nuclear program of Iran to be supported by European technology in any way.

It seems part of the question is whether or not a business enterprise in general that generates revenue would be considered an aid to the Iranian nuclear program.

BP spokesman Richard Grant, based in Aberdeen, said the situation is "quite complex," and the company wants the joint venture with Iran concerning the Rhum field clarified.

If found to be under the new regulations, production at the project would be halted.

1 comment:

  1. BP approves an attack strategy on Exxon, Shell and Chevron and plans to use the BPCares websites to promote its online PR campaign.
    This decision was unanimously agreed upon in conjunction with the BPAMA at their recently concluded meeting. The BPAMA marketers were concerned about BP’s long term commitment to the partnership. BP pointed out to the BPAMA members that they will not be abandoned; rather… they will receive the full support from BP’s marketing machine to crush the competitors like Exxon, Shell and Chevron.
    BP will use its bevy of various BPCares websites (said one of the Marketing Managers) to target specific markets in the US and around the world; “We will punish Exxon, Shell and Chevron… its War and its personal”. The domains that BP will use are as follows:
    BP will collaborate with the BPAMA with regards to the execution of specific websites. The websites will be up soon and some of the websites will target the Southern States that suffered heavily from the oil spill.