ABB Lummus

Germany

 

According to an ABB Lummus Investor Presentation, the company stopped pursuing new business in Iran in 2007 and completed its withdrawal from Iran's oil and gas sector in 2011 (ABB Investor Presentation, September 2012).

Date: May 2006

Deal: In May 2006, according to a U.S. government report, the German branch of heavy engineer ABB Lummus reportedly signed a construction and engineering contract for $478 million with the National Iranian Oil Company (NIOC) (GAO Report, December 2007). According to Reuters, this contract provided for the expansion of the Abadan refinery to increase gasoline production in Iran (Reuters, November 19, 2006). As of August 2009, the Tehran Times reported that the refinery was 80 percent complete and scheduled to be ready for operation in early 2010; ABB Lummus was not mentioned in the report (Tehran Times, August 31, 2009).

Date: 2006

Deal: A Reuters report stated that in 2006 "Germany's ABB Lummus signed a $512 million contract with NIOC and a consortium of Iranian companies to develop the Bandar Abbas refinery. The group intends to raise gasoline production to 13 million liters per day from 4.8 million liters currently" (Reuters, August 22, 2009). The National Iranian Oil Refining and Distribution Company (NIORDC) lists the refinery's production date as "in the midst of 2010" (NIORDC, 2009).

According to the United States Government Accountability Office (GAO), ABB Lummus no longer exists as a company. Swiss company, ABB sold the Lummus Group in 2007 to American firm Chicago Bridge & Iron Company. Both firms informed the GAO that they do not have operations in Iran (Iran's Oil, Gas, and Petrochemical Sectors, March 23, 2010).

Last Updated: July 16, 2013