MUST READ: FACTBOX-US GAO lists foreign firms in Iran energy sector


A new report from the U.S. Government AccountabilityOffice found that 41 foreign companies had commercial activity in Iran's oil,natural gas and petrochemical sectors from 2005 to 2009. These activities included exploration and development of Iran's oil and gas
resources, petroleum refining and construction of pipelines and tankers to move
energy supplies.

The Iran Sanctions Act allows for U.S. sanctions on foreign firms that invest more than $20 million in Iran's energy sector over a 12-month period. Under the law, the president could restrict loans to sanctioned firms and ban them from U.S. government contracts.

However, the U.S. Secretary of State could waive the sanctions if it is determined that it would be in the national interests of the United States to do so. That was the case in 1998 when sanctions were waived against foreign energy firms based in the European Union due to the EU's cooperation in fighting terrorism sponsored by Iran. In an effort to convince Iran to give up its nuclear program, Congress is trying to hammer out a final bill that would punish foreign companies that export gasoline and other petroleum products to Iran. Based on public reports, the GAO said the following 41 foreign firms had big business in Iran's oil, gas or petrochemical sectors:

ABB Lummus :
Refining, petrochemicals
Amona from Malaysia :Oil exploration and production
Belneftekhim from Belarus :Oil exploration and production
China National
Offshore Oil Corporation from China: Natural gas
China National Petroleum
Corporation from China :Oil exploration and production, natural gas
Oil,Gas & Process Ltd. from United Kingdom: Natural gas
Daelim South
from Korea :Natural gas
Daewoo Shipbuilding & Marine Engineering from
South Korea : Oil tankers
Edison Italy Oil exploration and production-ENI
from Italy :Oil exploration and production
Gazprom from Russia : Oil
exploration and production, pipeline
GS from South Korea : Natural gas
Haldor Topsoe from Denmark : Refining
Hinduja from United Kingdom : Oil
exploration and production, natural gas
Hyundai Heavy Industries from South
Korea : Oil tankers
INA from Croatia : Oil exploration and production,
natural gas
Indian Oil Corporation from India : Natural gas
Inpex Japan
Oil exploration and production-JGC Corporation from Japan : Refining
from Russia : Oil exploration and production
LyondelBasell from Netherlands
: Petrochemicals
Oil India Ltd from India : Natural gas
Oil and Natural
Gas Corp from India :Oil exploration and production, natural gas
OMV from
Austria : Natural gas
ONGC Videsh Ltd from India : Natural gas
from Brazil : Oil exploration and production
Petrofield from Malaysia :
Natural gas
Petroleos de Venezuela from Venezuela : Natural gas
LNG from India : Natural gas
PGNiG from Poland : Natural gas
Exploration & Production from Thailand : Natural gas
Repsol from
Spain :Natural gas
Royal Dutch Shell from Netherlands : Natural gas
Sinopec from China : Oil exploration and production, refining
Ventures from Malaysia : Natural gas
Snamprogetti from Italy : Pipeline
StatoilHydro from Norway : Oil exploration and production, natural gas
Tecnimont from Italy : Petrochemicals
Total from France : Natural gas
Turkish Petroleum Company from Turkey : Natural gas
Uhde from Germany :

*ABB Lummus no longer exists as a firm. ABB of Switzerland sold the Lummus Group
in 2007 to Chicago Bridge and Iron Company (CB&I) of the United States. ABB and
CB&I told Reuters they no longer have commercial activity in Iran.
(Reporting by Tom Doggett)


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