A BP North Sea field to test U.S. policy on Iran

27 Nov 2017   Iran, USA

 A small gas field on the edge of the British North Sea could become a litmus test for U.S. policy towards Iran. London-based BP this week agreed to sell to North Sea producer Serica Energy three fields in the aging offshore basin, including the Rhum field which is co-owned by a subsidiary of Iran’s national oil company. Sponsored For Serica, the $400 million deal will increase its production sevenfold. It nevertheless hinges on the British company receiving a license from U.S. sanctions enforcement authorities at a time when President Donald Trump is flexing his muscles against Tehran. For BP and its American Chief Executive Bob Dudley, selling Rhum, which BP discovered in the 1970s, removes a potential source of friction as it mends its ties with the U.S. government following the deadly 2010 Deepwater Horizon spill in the Gulf of Mexico. Rhum was shut down for […]

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