U.S. warns over limits of easing on Iran sanctions


Schlumberger (SLB) finished shutting down its Iranian business in Q2 last year after losing $69M and facing a U.S. probe into its activities in several sanctioned countries, its latest 10-K filing shows; SLB says it has not bid on new Iranian oil contracts since early 2009.

Economic sanctions against Iran had pushed other oilfield service firms such as Halliburton (HAL) and Baker Hughes (BHI) to finish up their contracts and exit the country; last November, Weatherford (WFT) agreed to pay $252M in penalties for violating sanctions in Iran and other countries.

Several of the world’s largest oil companies, such as BP and Shell, also pulled out of projects in Iran.

Although the U.S. struck a six-month easing of some sanctions on Iran in November, officials are privately warning some of the same executives that any business now allowed with Iran must be limited to the six-month window of the deal.

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Comments (9)
  • DougRk
    , contributor
    Comments (1915) | Send Message
     
    So companies get investigated for Iran dealings while Obama himself cuts a deal to allow them nukes. Makes a lot of sense.
    31 Jan 2014, 06:02 PM Reply Like
  • Jake2992
    , contributor
    Comments (1128) | Send Message
     
    Even if that were true, it wouldn't be as bad as Bush lying to the entire nation to take us into two wars that killed thousands of Americans and cost taxpayers trillions of dollars.
    1 Feb 2014, 02:34 PM Reply Like
  • DougRk
    , contributor
    Comments (1915) | Send Message
     
    After we count the body bags from an Iranian nuke attack, and weigh the loss of surface area from contamination, then we'll see what you say.
    3 Feb 2014, 08:34 PM Reply Like
  • minwyhe
    , contributor
    Comments (115) | Send Message
     
    Are there oil services companies doing business in Iran. If so please let me know because not to do so is short sighted and is only punishing the people of Iran who need the oil revenues to feed, cloth and house themselves. Any one who knows of a company(ies) that are please reply to this comment.
    31 Jan 2014, 06:45 PM Reply Like
  • WhatdoIknow1
    , contributor
    Comments (652) | Send Message
     
    Zero revenue from oil makes it to the " people " of Iran.
    These are the same principled leader types who sent their " people " into battle without weapons in there war with Iraq.

     

    Wake up
    1 Feb 2014, 06:09 AM Reply Like
  • minwyhe
    , contributor
    Comments (115) | Send Message
     
    Who is working in the oil fields? Who provides services to the Iranian people like our government does for ours and where does the government get the money to do that?
    2 Feb 2014, 05:43 PM Reply Like
  • dancing duke
    , contributor
    Comments (183) | Send Message
     
    I am susprised that the us congress has an attention span of 6 months
    31 Jan 2014, 07:49 PM Reply Like
  • user 419955
    , contributor
    Comments (26) | Send Message
     
    How true.
    1 Feb 2014, 02:13 PM Reply Like
  • SSGAJ
    , contributor
    Comments (227) | Send Message
     
    Well, BP is not allowed to have new contracts in the Gulf and is barred along with all other oil companies to contract in IRAN as well. Perhaps we need a course in diplomacy because it looks like we are losing ground in that area.
    1 Feb 2014, 09:35 PM Reply Like
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