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Friday, October 29, 2010     FOLLOW UPDATES ON TWITTER

EU firms ending energy partnerships with Iran
as sanctions take effect

LONDON — The European Union expects the departure of additional companies from Iran's energy sector.

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EU officials said sanctions by Brussels on Iran, which took effect on Oct. 27, would lead to the end of energy partnerships with Teheran.

They cited a joint venture between Britain's BP and Iran regarding the Rhum natural gas field, valued at $4 billion.


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"That is the European Union using its collective weight in the world, absolutely in the right way," British Foreign Secretary William Hague said.

The British Foreign Office pledged to comply with EU sanctions on Teheran, which do not ban exports to Iran. Since 2003, BP and the state-owned National Iranian Oil Co. have been developing Rhum, which in the first half of this year produced six million cubic meters of gas per day.



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