Building a world of
resilient communities.

MAIN LIST

 

U.S. Prods Japan To Quit Iran Oil For Libya

TEHRAN (MNA) -- The United States is pressuring Japan to invest in Libya's oil industry instead of a project to tap Iran's giant Azadegan oilfield that has provoked the wrath of Washington, a Bush administration official said, Reuters reported on Friday.

The United States, which has sanctions against U.S. companies doing business in Iran, has persistently expressed its disappointment that its close ally, resource-poor Japan, would invest in the Islamic Republic in a $2 billion project.

"We understand their energy needs. But there is no question that we are emphasizing that Libya is an alternative that is going to come online soon," the administration official, who asked not to be named, said.

The Japanese Embassy in Washington said it had no comment.

The administration official said Japan was sensitive to increasing U.S. concerns about Iran although it did not indicate it would withdraw from an oilfield which is about the size of Tokyo.

Azadegan's estimated 26 billion barrels of reserves is one of the world's largest untapped finds and one of Tehran's biggest international deals since the 1979 Islamic revolution. Japan signed on 18 February a landmark agreement with Iran to develop one of the world's largest oilfields in a move that could rekindle tensions with the U.S.

Japan signed a $2 billion deal with Tehran to jointly develop the massive Azadegan oilfield in southwestern Iran, which holds some of the largest oil reserves in the world.

A consortium of Japanese firms will hold a 75 percent stake in the project to develop the oilfield with estimated reserves of 26 billion barrels while a unit of Iran's state oil company, NIOC, will own the remaining 25 percent.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Start your own projects. See our RESOURCES page.
Make connections via our GROUPS page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


Sustainable Economies Law Center eResources

Did you know that SELC has five free online legal resource libraries?

Weaving the Community Resilience and New Economy Movements in the US

One of the most exciting new economy efforts in the US is the New Economy …

Reimagining Our Streets as Places: From Transit Routes to Community Roots

Streets are our most fundamental shared public spaces, but they are also one …

"When Transition forgets what it's called": the Arts and Social Change

When we started Transition, I imagined it as an environmental process. Now I …

The City as Commons

A commons-based economy cannot thrive without appropriate institutions, …

Don’t Come Back In Until Dinner

Understanding our land begins with engagement, even if it is just a kid …

Farewell, Mr. Spock!

You showed us a future where science was respected by everyone, where logic …