One More Reason To Throw BP To The Wolves

The Shah Deniz Alpha Oil Rig. Courtesy British Petroleum

Sleeping With The Enemy: BP's Deals With Iran

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.

But BP remains one of the most active major western oil companies engaged in joint-venture energy projects with the Iranian Ministry of Petroleum outside of Iran.

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My Comment: Is BP a good corporate citizen? With the Gulf disaster continuing and after reading this article .... BP does have a problem.

On a side note .... we also have a problem because we have no choice but to work with companies like BP to satisfy our needs for oil and petroleum based products. We may be pointing a finger at BP, but we are pointing 3 at ourselves.