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BP and EU lobbied U.S. on Iran sanctions - sources
Mon Jan 23, 2012 12:35pm GMT
LONDON Jan 23 (Reuters) - BP Plc, the British government and the European Union lobbied U.S. lawmakers to have a BP-led project exempted from proposed new U.S. sanctions which seek to stop Western companies doing business with Iran, sources close to the matter said.
U.S. lawmakers are mulling new sanctions to constrict the funding that Western nations suspect Iran is using to develop nuclear weapons.
One congressional aide said senators were discussing provisions that could bar companies like BP from working with the National Iranian Oil Company (NIOC).
NIOC's subsidiary, Naftiran Intertrade Co, owns a 10 percent stake in the Shah Deniz project which is co-led by BP and Norway's Statoil and which is estimated to contain 1.2 trillion cubic metres of gas.
more: http://af.reuters.com/article/commoditiesNews/idAFL5E8CN1K720120123
