The Shah Deniz Alpha Oil Rig.
Courtesy British Petroleum
Like most of the major Western oil companies, British Petroleum has cut back its ties with Iran as international sanctions against the Islamic Republic have mounted in response to its nuclear program. BP several years ago halted investments larger than $20 million into Iran's energy infrastructure, remaining below the threshold for penalties set by the 1995 Iran Sanctions Act. And in the second half of 2009, the company halted the sale of refined petroleum products to Iran, which Tehran needs because of its limited domestic refining capacity.
Read more: http://www.time.com/time/nation/article/0,8599,1996921,00.html#ixzz0r9Hr9tlcSleeping with the Enemy: BP's Deals with Iran - TIME
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