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  • Some Energy Stocks Burn Brighter Than Others [View article]
    TEHRAN (AFP) -- Iran's oil minister confirmed on Saturday that the French energy giant Total SA (12027.FR) was out of a multi-billion dollar gas investment in the Islamic republic, the state broadcaster reported.
    "Total's recent move in withdrawal from phase 11 of the South Pars is a completely political move and not a commercial one," Nozari said.

    The French firm's chief Christophe de Margerie said in an interview published Thursday that it was too politically risky to invest in Iran at present.

    Western governments have pressured firms to cut their ties with Iran over the country's controversial nuclear program that world powers fear could be aimed at seeking atomic weapons.

    If a giant like Total fina is pulling out of Iran, they must be under great political pressure to do so - gas will keep going up!
    Jul 13 06:02 am |Rating: 0 0 |Link to Comment
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