BP shuts gas field due to sanctions on Iran
BP PLC says production at its North Sea Rhum gas field, which it co-owns with the Iranian Oil Co., has been suspended to ensure compliance with European Union sanctions against Iran
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London: BP PLC says production at its North Sea Rhum gas field, which it co-owns with the Iranian Oil Co., has been suspended to ensure compliance with European Union sanctions against Iran.
BP says on Tuesday that production will be suspended until the company obtains further clarification from the British government on how the sanctions issued last month apply to Rhum.
The gas field began production in 2005 and is a 50-50 joint venture with Iranian Oil.
The field is capable of producing up to 5.9 million cubic meters of gas per day.
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