Total Joins Others In Withdrawing From Iran

Law360, New York (July 14, 2008, 12:00 AM EDT) -- Citing "political conditions," French oil giant Total SA has announced it will cease its activities in Iran, which have been the subject of prior scrutiny, making it the final Western energy company to pull out of the Islamic Republic.

"Today we would be taking too much political risk to invest in Iran because people will say: 'Total will do anything for money,'” CEO Christophe de Margerie told The Financial Times on Thursday.

Before the announcement, Total was expected to develop Iran's South Pars natural gas field...
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