Energy

"What business does the company Babcock Borsig Service GmbH conduct in Iran given that it advertises itself as a provider of 'magnet – and nuclear technology and service'? There is good reason to suspect that German companies are involved in developing nuclear installations... The Babcock Borsig Service GmbH is represented by the BABAK – FANAVAR." (Matthias Kuntzel, "Who is Who in German Trade With Iran")

"Some firms on the list already are the targets of federal sanctions. They include the state-run Petroleos de Venezuela, the Belorussian firm Belarusneft, China's Zhuhai Zhenrong Co., Singapore's FAL Oil Co. and Kuo Oil, and Switzerland-based Naftiran. Others, including Angola's Sonangol, reportedly have pulled out of Iran in response to international sanctions." (The Baltimore Sun, "22 companies are listed for alleged Iran ties, sanctions," 9/17/2012)

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"Iran's fuel oil exports fell nearly 50 percent from May to June, according to industry sources, adding to declines earlier this year and to the strain on Tehran's finances as sanctions have hit its oil trade…Western sanctions do not specifically ban the purchase of Iran's fuel oil but instead target the financing and shipping insurance needed to buy and transport Iranian cargoes, creating difficulties for would-be customers that effectively have slashed trade with Iran.

No one is willing to insure any Iran-related oil cargo,' a Gulf-based trader said. 'Plus the trade has to be in any other currency than the dollar.'

The United States has blacklisted some companies due to their business links with Iran, including United Arab Emirates-based Fal Oil and Singapore's Kuo-Oil, once lifters of Iranian fuel oil." (Reuters, "Iran fuel oil exports plummet in June-industry data," 7/12/12)

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"The US state department announced late on Thursday that penalties would be imposed on China’s Zhuhai Zhenrong, the Singapore-based oil trader Kuo Oil, and the United Arab Emirates-based independent oil trader FAL." (Financial Times, "US sanctions Chinese oil trader," 1/13/2012)

On June 30, 2020, the Mississippi Department of Finance & Administration identified Kuo Oil as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.” 

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In 2017 the U.S. state of Mississippi listed Kou as an Iran restricted company rendering Kou ineligible for investment and/or state contracting.

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"Some firms on the list already are the targets of federal sanctions. They include the state-run Petroleos de Venezuela, the Belorussian firm Belarusneft, China's Zhuhai Zhenrong Co., Singapore's FAL Oil Co. and Kuo Oil, and Switzerland-based Naftiran. Others, including Angola's Sonangol, reportedly have pulled out of Iran in response to international sanctions." (The Baltimore Sun, "22 companies are listed for alleged Iran ties, sanctions," 9/17/2012)

 

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"Iran's fuel oil exports fell nearly 50 percent from May to June, according to industry sources, adding to declines earlier this year and to the strain on Tehran's finances as sanctions have hit its oil trade…Western sanctions do not specifically ban the purchase of Iran's fuel oil but instead target the financing and shipping insurance needed to buy and transport Iranian cargoes, creating difficulties for would-be customers that effectively have slashed trade with Iran.

No one is willing to insure any Iran-related oil cargo,' a Gulf-based trader said. 'Plus the trade has to be in any other currency than the dollar.'

The United States has blacklisted some companies due to their business links with Iran, including United Arab Emirates-based Fal Oil and Singapore's Kuo-Oil, once lifters of Iranian fuel oil." (Reuters, "Iran fuel oil exports plummet in June-industry data," 7/12/12)

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"The US state department announced late on Thursday that penalties would be imposed on China’s Zhuhai Zhenrong, the Singapore-based oil trader Kuo Oil, and the United Arab Emirates-based independent oil trader FAL." (Financial Times, "US sanctions Chinese oil trader," 1/13/2012)

 

"CPC Corp., Taiwan’s state-run refiner, plans to stop importing oil from the Persian Gulf nation in July because of U.S.-led sanctions, company President Lin Maw-wen said March 26." (Bloomberg, "Taiwan’s Oil Imports From Iran Surge Following Halt in February," 5/16/2012)
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"Some processors, including Japan’s Idemitsu Kosan Co. and Taiwan’s CPC Corp., have cut the amount they buy from Iran. CPC, Taiwan’s largest refiner, has reduced its imports to about 4.7 percent of total purchases last year from 11 percent in 2010, Lin Maw-Wen, the state-run refiner’s president, said by phone today." (Businessweek, "Asian Refiners Seek Iran Oil Alternatives on Disruption Threat," 1/6/2012)

"French oil giant Total announced it had dropped a multi-billion-euro gas project and Air Liquide has also pulled out." (RFI, "Air France stops flights to Iran," 8/24/2018).

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French industrial gas group Air Liquide says it will "cease all commercial activity" in the country although a spokesperson says the firm has "no investments" there. (“French firms big losers in Trump’s new Iranian sanctions game,” Agence France-Presse (France), August 5, 2018.)

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The Petrochemical Research and Technology Company of Iran finalized an agreement with France's Air Liquide Engineering and Construction Company on transferring state-of-the-art technology and granting much-needed licenses to convert methanol to propylene under PARS MTP brand. (March 10, 2018).

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Air Liquide resumed talks on MTP licensing after the lifting of sanctions in January 2016. Petrochemical Research and Technology company, the research and development arm of NPC, signed a memorandum of understanding with Air Liquide last week on the transfer of state of the art methanol to propylene technology. The agreement is aimed at building an MTP unit in Iran with an annual production capacity of 500,000 tons under the license of Air Liquide.  (August 1, 2017)

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"A new round of talks between Iran and UOP LLC Petroleum industry company of America has kicked off over investment and supply of new technologies. Association of Petrochemical Industry Corporations (APIC) announced that a fresh round of negotiations has begun between Iran’s petrochemical officials and three major American and European petrochemical companies with the main axes of talks being construction of new polymer units, knowledge and technology transfer as well as issuance of license for new petchem plans. On the sidelines of K Trade Fair 2016, the world's premier fair for the plastics and rubber industry in Germany, high ranking officials of Iran’s petrochemical industry held meetings with authorities of France’s Total and Air Liquide as well as America’s UOP, formerly known as Universal Oil Products." (Mehr News, "US petchem giant ready to return to Iran," 10/24/2016).

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"The six companies that were divested, in accordance with a new state law are: L'Air Liquide, Daelim Industrial Co., Gazprom Hyundai Heavy Industries Ltd, Sasol and Siemens Ltd.." (Reuters, "Massachusetts pension fund divests of companies with Iran ties," 1/4/2012)

The Samson logo appears on the webpage of the Iranian firm, Pars Akam Energy (“Pars Akam”).  (Pars Akam Website, “Home”).  

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SAMSON participated in the 2016 Iran Oil Show through its representative, Tech. Control. SAMSON touted its presence as an “opportunity for a mutual exchange of information and experience, for establishing first contacts or intensifying already existing ones.”  (Iran Oil Show Website, “German Pavilion”).  (Iran Oil Show Website, “SAMSON”). 

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On its Company Website Samson lists Iranian companies Tech. Control Industrial Consultants Co. and Electro Heat Company as partner agencies. (Samson Website, “Catalog: Controllers and Sensors for Heating, Ventilation and Air-conditioning Systems,” 2012; Samson Website, “SAMSON Subsidiaries, Agencies and Service Facilities Worldwide”) Samson's subsidiary VETEC Ventiltechnik GmbH also lists Tech. Control Industrial Consultants Co. as a partner agency on its respective website.(VETEC Ventiltechnik Website, “Worldwide Agencies”; VETEC Ventiltechnik Website, “About Us”)

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"For example, this year Samson AG, which makes special valves used in gas fields, has obtained partial guarantees by at least three German banks for about €29 million in shipments via Hansa: Deutsche Bank AG and state-owned German banks Commerzbank AG and Landesbank Baden Würtemberg AG, or LBBW." (The Wall Street Journal, "Sanctions Hit—and Miss—in German Trade With Iran," 12/17/2011)

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In 2007, “Starline, an associated company of the Samson, [which] specializes in particularly high-quality forged ball valves,” announced, “We are pleased to Inform our Customers that we have just completed the registration with National Iranian Gas Company [NIGC] and Starline is now listed on their official vendor list … This registration follows the previous made inclusion on the NIOC [National Iranian Oil Company] vendor list.” The press release also stated that Starline had provided 2,000 valves for an Iranian South Pars gas field project in 2006. (Samson Website, “STARLINE S.p.A.”;  Starline Website, “NIGC - Vendor List Registration,” 02/20/07)

In a 2020 Saipem report, "TPC complex expansion study, Tabriz Petrochemical Company, Iran," is listed under "Projects." 

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"The company was reported as potentially seeking development opportunities for the Toos Gas Field. In 2018 CalPERS designated the company as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act."

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Saipem SpA had previously been removed from the Iran-related securities list. In 2017, CalSTRS designated Saipem SpA as “Under Review” for potentially having new ties to Iran and initiated a new review process. In 2018, CalSTRS removed Saipem SpA. after reviewing the company’s business with Iran and internal controls to prevent sanction violations.

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"Italy-based Saipem, a leading oil and gas contractor, has expressed readiness to have an active presence in Iran's petrochemical ventures. According to NIPNA, the National Petrochemical Company's official news agency, talks were held between NPC's Managing Director Reza Norouz-Zadeh and the Italian firm's high-ranking officials on the sidelines of "Milan Plast 2018 Exposition" in Italy. "Negotiations revolved around optimizing and revamping production methods,"" (Financial Tribune, "Italy's Saipem, Iran's NPC Explore Grounds for Petrochem Coop.," 7/9/2018).

 

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"Saipem SPA has entered a memorandum of understanding (MOU) with Razavi Oil & Gas Development Co., Tehran, about possible cooperation in the development of Toos natural gas field 100 km northeast of Mashhad, Iran. The MOU is the third Saipem has signed with Iranian entities this year. The Italian company said Toos field has more than 60 billion cu m of gas in place and capacity to produce 4 million cu m/day. The development would involve the drilling of 5-7 wells and design and construction of production, transportation, and processing facilities. In January, Saipem signed an MOU with Parsian Oil & Gas Development Co. about possible cooperation in revamping and upgrading the 110,000-b/d Tabriz refinery and planned, 120,000-b/d Pars Shiraz condensate refinery to be linked with the 60,000-b/d Shiraz refinery. Also in January, Saipem signed an MOU with National Iranian Gas Co. on possible cooperation on two natural gas pipelines, IGAT 9 and IGAT 11, with combined lengths of 1,800 km." (April 12, 2016).

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"During the official State visit to Iran of the Italian Prime Minister, Matteo Renzi, Saipem Chief Executive Stefano Cao and Ali Yadghar, Managing Director of Razavi Oil & Gas Development Company, entered into a Memorandum of Understanding (MoU) concerning potential cooperation on a major project in the country. The MoU envisages discussions aimed at potential cooperation on the Toos Gas Field Development Project, located 100km northeast of Mashhad. The gas field, holding over 60 billion cubic meters of gas in place, has the capacity to produce some 4 million cubic meters of gas per day. The development project encompasses the drilling of 5 firm plus 2 optional wells, and the design and construction of all upstream gas production facilities and those for transportation and processing." (April 12, 2016). 

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"Saipem has entered into a Memorandum of Understanding (MoU) concerning potential cooperation on major pipeline projects in Iran. The MoU, signed with the National Iranian Gas Company (NIGC), envisages discussions aimed at Saipem’s potential cooperation in NIGC pipeline projects - including IGAT9 and IGAT11 - which cover 1800km." (January 26, 2016). 

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In 2013 Saipem was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran after it was determined to have past involvement. 
 

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Saipem is a 43% owned subsidiary of Italian energy giant, Eni. (Saipem Website, "History")

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Saipem maintains a branch office in Tehran. (Company Wesbite)

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In 2012, Saipem was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996.
 

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"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)

As of December 2020, Rhode Island continues to list Japan Drilling as an Iran scrutinized company for active involvement of at least $20-50 million in Iran's energy sector. The company is an offshore drilling contractor which operates in several countries including Iran. It lists several companies in Iran as its clients including Iranian government owned entities. (Factiva - MarketLine, 07/24/2015; Company website, 07/2019)

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On August 14, 2020, Japan Drilling was removed from the Iowa Public Employees' Retirement System Iran Prohibited Companies List. 

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As of August 15, 2019, the state of Iowa listed Japan Drilling on its Iran scrutinized companies list.

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In 2015, CalSTRS designated Japan Drilling Co. Ltd. as “Under Review” for potentially having ties to Iran. In 2016, CalSTRS stopped and restarted the review process based on changes in CalSTRS’ holdings in the company’s securities. In 2017, CalSTRS designated Japan Drilling Co. Ltd. as “Being Monitored” and maintained that designation in 2018. In 2015, Japan Drilling Co. Ltd. was identified as possibly operating offshore drilling services in Iran with clients including the Iranian government. In 2019, CalSTRS removed Japan Drilling Co. Ltd. as it no longer holds any of the company’s securities. 

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In 2018 the U.S. state of Iowa listed Japan Drilling on its Iran prohibited companies list rendering Japan Drilling ineligible for investment and/or state contracting.--

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In 2017 the U.S. state of California identified Japan Drilling as a company under review for potentially operating in Iran with ties to the Iranian government.

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In 2017 the U.S. state of Rhode Island, South Carolina and Tennessee listed Japan Drilling on its Iran prohibited companies list rendering Japan Drilling ineligible for investment and/or state contracting.

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As of February 15, 2016, Japan Drilling lists the following companies as clients on its website: Pars Oil and Gas Co., Petroleum Engineering and Development Company, Total Sirri, Total South Pars, Eni Iran B.V., Stat oil Iran, National Iranian Drilling Co.

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"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)

As of May 17, 2021, Iowa's Public Employee's Retirement System lists COSL on its Iran Scrutinized Companies List.

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In January 2021, the State of New Jersey Department of the Treasury listed COSL as a company engaged in prohibited activities in Iran pursuant to P.L. 2012, c. 25 ("Chapter 25"). 

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On June 16, 2011, COSL was added to the Florida State Board of Administration List of Prohibited Investments (Scrutinized Companies) due to its involvement in Iran. As of March 9, 2021, COSL remains on the SBA list of prohibited investments. 

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COSL is listed on the August 5, 2020 California Department of General Services, "Entities Prohibited from Contracting with Public Entities in California per the Iranian Contracting Act, 2010" list.

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In 2020, the U.S. state of Mississippi listed COSL on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

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In June 2020, COSL was listed by the Connecticut Office of the Treasurer as a restricted company and therefore prohibits direct investment in the company due to its involvement in Iran. 

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"In 2014, CalSTRS designated China Oilfield Services Limited as "Under Review" for potentially having ties to Iran. The company's activities in Iran were confirmed in CNOOC's 20-F Filing, which stated, "China Oilfield Services Limited (COSL), one of our non-controlled affiliates, continued to provide certain drilling and other related services in Iran in relation to subcontracting agreements entered into in 2009, as it did in 2012."

In 2014, CalSTRS designated China Oilfield Services Limited as "Divested and Restricted" and maintained the "Divested and Restricted" status in 2020."

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As of June 2020, China Oilfield remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. 

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On June 1, 2020, the Ohio Police & Fire Pension Fund (“OP&F”) listed COSL on its scrutinized companies Iran/Sudan list.   On September 24, 2008, OP&F adopted an Iran and Sudan Divestment Policy, which notes, “[t]he purpose of this Policy is to divest and restrict the purchase of stocks and bonds (“direct holdings”) issued by a publicly traded Company… with “scrutinized active business operations” in Iran and Sudan.

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As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list COSL on its list of “Scrutinized companies with Activities in the Iran Petroleum Energy Sector.” 

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On May 15, 2020, the IPERS identified COSL on its Iran Prohibited Companies List.

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On January 13, 2020, the South Dakota Investment Council submitted a report to the Executive Board of the Legislative Research Council regarding compliance with SDCL 4-5-48 to 4-5-60, Iran Divestiture. Included in this report is an Iran Scrutinized Companies list of all prohibited investments for which the internal managers and direct external managers are instructed not to purchase any company on the list. COSL is included on this list.

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As of December 31, 2019, the Alaska Retirement Management Board lists COSL as a company doing material business with Iran.  

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In 2014, the California State Teachers’ Retirement System (“CalSTRS”), designated COSL as “Under Review” for involvement in the development of oilfields in Iran. The company’s activities in Iran were confirmed in CNOOC’s 20-F filing, which stated, “China Oilfield Services Limited (COSL) one of our non-controlled affiliates, continued to provide certain drilling and other related services in Iran in relation to subcontracting agreements entered into in 2009, as it did in 2012.” In 2014, CalSTRS designated COSL as “Divested and Restricted” and maintained that designation in 2019.   In 2015, the California State Public Employees Retirement System (“CalPERs”) approved divestment from COSL. 

 

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As of October 2019, China Oilfield remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. 

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"To our knowledge, in 2018, China Oilfield Services Limited (COSL), one of our non-controlled affiliates, provided certain drilling services in Iran." (CNOOC, Annual Report 2018).

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As of August 15, 2019, the state of Iowa listed China Oilfield Services on its Iran scrutinized companies list.

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China Oilfield is listed on the June 4, 2019 and July 12, 2019 Florida State Board of Administration list of prohibited investments (Scrutinized companies) for Iran related business.

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On June 30, 2019, New Jersey listed China Oilfield Services on its state list of entities determined, based on credible information, to be engaged in prohibited activities in Iran.

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China Oilfield Services is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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On March 13, 2019, the Mississippi Department of Finance & Administration identified COSL as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran

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China Oilfield Services is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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CNPC is listed on the January 2019 Entities prohibited from Contracting with Public Entities in California list.

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In 2014, CalSTRS designated China Oilfield Services Limited as “Under Review” for potentially having ties to Iran. The company’s activities in Iran were confirmed in CNOOC’s 20-F Filing, which stated, “China Oilfield Services Limited (COSL), one of our non-controlled affiliates, continued to provide certain drilling and other related services in Iran in relation to subcontracting agreements entered into in 2009, as it did in 2012.” In 2014, CalSTRS designated China Oilfield Services Limited as “Divested and Restricted” and has maintained the “Divested and Restricted” designation in 2018.

China Oilfield Services Ltd is listed on the December 31, 2018 CalSTRs Portfolio of companies identified as possibly having ties to Iran and from which CalSTRs has divested from and restricted in 2018.

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China Oilfield Services is listed on the CalPERS November 2018 Iran Divested/Restricted companies list.

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In 2017, the states of Alaska, California, Connecticut, Florida, Georgia, Iowa, Mississippi, North Carolina, Ohio, Pennsylvania       South Dakota and Texas  listed China Oilfield Services on its Iran scrutinized companies list rendering China Oilfield Service ineligible for investment and/or state contracting.

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August 2017 - COSL Singapore Ltd (“COSL Singapore”), an oilfield services company located in Singapore and a subsidiary of China Oilfield Service Limited, has agreed to pay $415,350 to settle its potential civil liability for 55 apparent violations of the Iranian Transactions and Sanctions Regulations.

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In 2014, China Oilfield was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996.

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In 2014, China Oilfield Services Limited was identified as being involved in the development of oilfields in Iran.

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In 2013, 2014, 2015, 2016 and 2017, China Oilfield Services was listed on the Texas Pension Review Board List of Scrutinized Companies doing business in Iran pursuant to Chapter 807.054, Government Code. 

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"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)

"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)