Total withdraws from Iran amid political tensions

[phantom power]

PARIS: Total, the French oil giant, has decided to back away from planned investments in Iran because of political uncertainty, a company official said Thursday.

Total's withdrawal from the country, including a planned massive gas project in the South Pars gas field, makes it the last major Western oil company to give up on Iran amid pressure from Washington to stop doing business with the Tehran government. The United States, Israel and other Western countries say Iran is seeking to developing nuclear weapons, but Iran says the program is for civilian purposes.

http://www.iht.com/articles/2008/07/10/business/total.php

[gateley]

1. Okay - now it's getting serious. When big money is involved...

If Tehran was pissed at the US before this, there's no telling how pissed they are now.

[ElectricGrid]

3. ooOOOhhh I am soooo scared that Iran might be pissed...

hold me.

[gateley]

4. If we're desirous of diplomatic negotiations with Iran

(and we are, regardless of how Bushco defines it), then this is not a move to open channels of discussion.

Do you agree?

[Purveyor]

2. I'm certain that either China and/or Russia would be glad to takeover the development

of the 'massive gas project'.