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Tuesday, August 23, 2005

Something Is Brewing In Iran...

The Italian press reports, Halliburton lost a major contract due to its ongoing investigation for sanction violations:
Halliburton lost a 310 million dollar contract for natural gas extraction in the Iranian site of South Pars. According to Tehran authorities, Oriental Oil Kish, a subsidiary of Halliburton operating in the Middle East, won the contract last January thanks to bribes. The activities of the company in South Pars have been suspended and the contract annulled.
While the Pakistani press reports, Halliburton decided that Iran was not conducive to [their] overall strategies and objectives:
US oil giant Halliburton is to end its activities in Iran and also plans to divest itself of subsidiary Kellogg Brown and Root, group chairman and chief executive Dave Lesar said. "The business environment currently in Iran is not conducive to our overall strategies and objectives. As a result we have decided to exit Iran and wind down our operations there," Lesar said Friday during a conference with investors.
And what is the U.S. press reporting? Well, nothing.

Regardless of who killed the deal... This certainly raises suspicions that our relationship with Iran is reaching a boiling point. Is war just over the horizon? Time will tell.

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