Thursday, July 10, 2008

The Power Of The Markets

Meanwhile, the head of Total, Christophe de Margerie, told the Financial Times the company's planned development of the huge South Pars gas field in southern Iran would not go ahead.

"Today we would be taking too much political risk to invest in Iran because people will say: 'Total will do anything for money'," he said.

Total was the last major Western energy group to have seriously considered investing in the country's huge gas reserves.

Analysts say the move will be a big blow to the Iranian energy industry. It means Iran is now unlikely to significantly increase its gas exports until late into the next decade, they add.

BBC -- US Warns Iran On Missile Threat

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