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Energy Firms Exiting Iran | Foundation for Defense of Democracies
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Energy Firms Exiting Iran


Indian firm, Essar Group announced in November 2007 that it was stepping back from investing in Iran.


British Petroleum (BP) announced in 2008 that it was halting its gasoline shipments to Iran.




In August 2008, StatoilHydro agreed not to make any new investments in Iran.




India's Reliance Industries announced in June 2009 that it was halting its gasoline sales to Iran.



Spanish company, Dragados pulled out of its contracts in Iran in 2009.



Chile's Sipetrol reported in 2009 that the company was withdrawing from its activities in Iran.



The Swiss firm announced that it was halting its sales of gasoline to Iran in January 2010.



The German insurance firm announced in February 2010 it was suspending its activities in Iran.



German reinsurer Hannover Re AG stated in February 2010 that it would only continue to conduct business in Iran it complies with United Nations and European Union sanctions.


Lloyd's of London announced that it would end its coverage of gasoline shipments to Iran if the US passed sanctions legislation in February 2010.


German reinsurer Munich Re AG announced in February 2010 a full suspension of its business dealings with Iranian companies.


In March 2010, German firm Bayerngas reported it had "shelved the development" its project in Iran.




France's Vitol stated in March 2010 that it would not participage in any new tenders to supply Iran with gasoline.



Malaysia's Petronas reportedly stopped selling gasoline to Iran in April 2010.



Italian firm ENI announced it was pulling from its project in Iran in April 2010.




Dragon Oil opted to send its crude oil through Azerbaijan rather than extending contract with Iran in June 2010.




Spain's Repsol YPF pulled out of its contract in Iran in June 2010.




France's Total ceased its gasoline sales to Iran in June 2010.



South Korea's GS Engineering & Construction announced in July 2010 that it abandoned its gas project in Iran.



In August 2010, Dutch-based LyondellBasell announced that it was ending its operations in Iran.



Australia's WorleyParsons stated in August 2010 that it would not engage in any new contracts in Iran.


German firm, The Linde Group announced in September 2010 that it was stopping its activities in Iran.



In September 2010, Germany's ThyssenKrupp announced that it was halting its business with Iran.


In October 2010, Japanese firm Inpex stated it was withdrawing from its activities in Iran.


In January 2013, Emirates National Oil Company (ENOC) announced that it was working on contracts to replace Iranian petroleum products at its refinery in Jebel Ali.