Some highlights from the article "Profiting From Iran, and the U.S."
doug f
soo many to highlight...d.
United States
$27.1 billion
Federal Contracts: $27,080,906,722
Withdrew
Halliburton, former Vice President Cheney's old company, provided oil and gas drilling services to Iran through foreign subsidies. After a political furor erupted over the work, the company announced it would do no new business in Iran, and it exited the country altogether in 2007. While still operating in Iran, Halliburton won huge contacts from the federal government, including a no-bid contract to restore Iraq's oil sector, as did its subsidiary at the time, Kellogg Brown & Root.
Britain
3.5 million acresIn Oil/Gas Leases
Oil/Gas Leases: 3.5 million acres
Active
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.
United States
$2 billion
Caterpillar, through foreign
subsidiaries, sold heavy machinery to independent dealers that resold
to users in Iran, where the company's equipment can be found at work in
Iran’s oil and gas sectors. In addition, a Canadian subsidiary that
Caterpillar acquired in 2008, Lovat, sold tunnel-boring equipment to
Iran in the late 1990s for municipal projects, said a spokesman, Jim
Dugan. Iran has since constructed tunnel complexes to shelter its
uranium enrichment complexes, a fact noted in a letter sent last month
to the company by United Against Nuclear Iran (UANI), a group that
mounts public pressure campaigns against corporations doing business
there. Caterpillar also sells products like armored bulldozers to the
United States military. On Feb. 26, the company announced that while
its sales to Iran amounted to less than 1 percent of worldwide revenue
and complied with American law, it would now go “a step further” by
prohibiting its foreign subsidiaries from accepting orders for
machines, engines or parts that they know it will end up in Iran.
United States
$1.7 billion
Federal Contracts: $1,696,615,833
Federal Grants: $5,043,044
Oil/Gas Leases: 2.1 million acres
Active
ConocoPhillips did business in Iran through its British subsidiary, Conoco LTD, up until 2003, when it left the country. But in 2004 it bought a minority stake in Lukoil, which continues to do business with Iran. A spokesperson said that Lukoil, in addition to its contract with an Iranian oil company to develop an oil project in Uzbekistan, sells gasoline to Iran. Although ConocoPhillips is not directly involved in Lukoil's Iran-related business, ConocoPhillips spokesperson John McLemore confirmed that the company profits from it due to its 20 percent investment in the company.
United States
$215.1 million
Federal Contracts: $215,134,753
Active
Dresser-Rand, a Texas-based oil and gas equipment supplier, said in multiple filings with the SEC, including as recently as last month, that "from time to time, certain of our foreign subsidiaries operate in countries that are or have previously been subject to sanctions and embargoes imposed by the U.S. government and the United Nations, including in Iran, Sudan and Syria."
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Honeywell
$12.9 billion Federal Contracts: $12,841,485,738
Federal Grants: $77,743,166
Active, but no new investment
United States
Honeywell acquired 100 percent ownership of Universal Oil Products (UOP), based in Des Plaines, Ill., in 2005. UOP has a British subsidiary that conducts business in Iran; it is part of a consortium with Axens, Technip, Sinopec Engineering Inc. and several Iranian firms that is expanding and upgrading the Arak Refinery in Iran. The project, budgeted to cost $3.7 billion, could nearly triple gasoline production, from 34,000 to 100,000 barrels per day, according to various news reports and FACTS Global Energy, an expert in the industry. Honeywell is a top federal contractor, and UOP recently won a $25 million grant to help develop renewable energy sources. In a statement, the company said that in early 2009 it committed to the State Department that it would not undertake any new projects in Iran, but that it is fulfilling its contractual obligations relating to the Arak refinery. "Should the U.S. Congress pass a law that prohibits subsidiaries of U.S. companies from doing business in Iran, Honeywell will comply fully," the statement said.
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Ingersoll Rand
$422.1 million Federal Contracts: $421,392,777
Federal Grants: $667,061
Active
United States
New Jersey-based Ingersoll Rand, which has won lucrative contracts from the U.S. military, has been selling industrial air condition and air compression systems to Iran through foreign subsidiaries since at least 2000, according to the company. The National Iranian Drilling Company states on its Web site that it uses Ingersoll Rand compressors in its work. Spokesman Paul Dickard said that compressed air systems have a wide variety of applications, and "it wouldn't be outside the range of possibility" that Ingersoll Rand systems would be used in the oil and gas sectors or even a nuclear plant, where such equipment is commonly found. Mr. Dickard said the company is evaluating what he called its "minor" business in Iran in light of the current political climate, adding: "We will want to think very seriously about whether we want to continue participating in Iran if it puts at risk other business that might be more lucrative for us."
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Elephants feel the fatal footfalls of poachers a hundred miles off. Cats exit the room when oysters are opened. On and on, and on and on. The unseen exists and has properties." - Richard Ford-"The Lay of the Land"