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[Washington Post] Steven Mufson - The Bush administration is warning European oil and gas companies against investing in Iran, trying to head off a push by Tehran to attract new investment by international petroleum giants. An executive from a major European company said, "The administration is putting the full-court press on foreign companies and is going all out to impress upon them that it would be a mistake to do anything with" Iran. Oil company executives and consultants said any reluctance to invest in Iran ultimately has more to do with the stingy terms Iran offers than with arm-twisting by the U.S. government. Generally, Iranian contracts give foreign companies a small profit before control of the fields is turned over to National Iranian Oil. "In effect, the Iranians have made our sanctions work better than we have," said Gary G. Sick, an expert on Iran at Columbia University. 2007-02-01 01:00:00Full Article
U.S. Cautions Europeans to Avoid Oil, Gas Deals with Iran
[Washington Post] Steven Mufson - The Bush administration is warning European oil and gas companies against investing in Iran, trying to head off a push by Tehran to attract new investment by international petroleum giants. An executive from a major European company said, "The administration is putting the full-court press on foreign companies and is going all out to impress upon them that it would be a mistake to do anything with" Iran. Oil company executives and consultants said any reluctance to invest in Iran ultimately has more to do with the stingy terms Iran offers than with arm-twisting by the U.S. government. Generally, Iranian contracts give foreign companies a small profit before control of the fields is turned over to National Iranian Oil. "In effect, the Iranians have made our sanctions work better than we have," said Gary G. Sick, an expert on Iran at Columbia University. 2007-02-01 01:00:00Full Article
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