UANI

BP continues to be actively engaged in the Iranian petroleum industry through joint ventures with Iranian oil companies. BP is currently partnering with the Iranian governmental-controlled Naftiran in the North Sea and Azerbaijan; these projects are worth over $2.4 billion per year (Time Magazine, "Sleeping with the Enemy: BP's Deals with Iran", 6/18/2010).

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"Still, given all the controversy over Iran's nuclear program, many companies decline to discuss their Iranian oil purchases. Companies like Shell and BP have said they have stopped selling gasoline to Iran.

But they rarely mention that they continue to buy crude or other Iranian oil products, which generally is a much larger and more lucrative business than gasoline deliveries" (The Wall Street Journal. "Oil Trade with Iran Thrives Discreetly," 5/20/10).

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"BP, in a 2009 filing with the Securities and Exchange Commission, said it had interests in and was the operator of two fields and a pipeline located outside Iran in which the National Iranian Oil company had an interest. The company also said in the filing that it buys small quantities of crude oil from Iran for sale to third parties in Europe and for its own refineries in South Africa and Europe and, through a joint venture, blends small quantities of lubricants for sale there. In addition, BP was one of several companies that provided Iran with gasoline, but Toby Odone, a spokesman for BP in London, said the company decided in 2008 to cease such shipments."  The company was alloted 3.5 million acres from the US government for their business in Iran during 2000-20009.  Their investments in Iran are currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"An AP review of corporate SEC filings found dozens of companies that have done business in Iran in recent years or said their products or services may have made it there through other channels. Some are household names: PepsiCo, Tyson Foods, Canon, BP Amoco, Exxon Mobil, GE Healthcare, the Wells Fargo financial services company, Visa, MasterCard and the Cadbury Schweppes candy and beverage maker." (Associated Press, "From bull semen to bras, Iran still buys American," July 9, 2008)

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"In recent months, Iran has, according to the respected trade publication International Oil Daily and other sources including the U.S. government, purchased nearly all of this gasoline from just five companies, four of them European: the Swiss firm Vitol; the Swiss/Dutch firm Trafigura; the French firm Total; British Petroleum; and one Indian company, Reliance Industries." (Orde F. Kittrie, Op-Ed, "How To Put The Squeeze On Iran," The Wall Street Journal, November 13, 2008)

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007)

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"Last Friday, Thyssen-Krupp, a steel-making conglomerate, said a representative of Iran - the company's third biggest shareholder - no longer would hold a seat on its supervisory board. In remarks to shareholders, Thyssen-Krupp supervisory board chairman Gerhard Cromme said he regretted having to remove the Iranian, but failure to do so would have created considerable economic disadvantages for the company. Thyssen-Krupps move came as BP chief executive officer John Browne reiterated that the oil company would refrain from exploring business opportunities in Iran." (The Globe and Mail, "Two big EU firms ease ties with Iran," January 28, 2005)