Middle East Economic Survey


No 45



BP Seeks Clarification On EU Sanctions Impact On UKs Rhum Field

BP announced in its 3Q10 earnings update on 2 November that it is seeking appropriate clarification from the UK government on certain aspects of the [EU sanctions] regulations and how they apply to the BP-operated Rhum gas field in the North Sea. BP and Irans Naftiran Intertrade Company (NICO) each hold a 50% equity interest in the 300mn cfd field. An EU spokeswoman...