Halliburton has said that its subsidiary in Iran had completed all its commitments and was no longer working in the country.
In January 2005, the company said that it would not accept new work in Iran but that it would complete existing contracts there.

The increasingly tense standoff between Iran and the UK over the fate of 15 British sailors and marines captured by Iran has helped drive crude oil prices to a six-month high.
Traders sent the price of crude oil up by 3 percent, to $66.03 a barrel in New York yesterday, after Iran put off […]

Gulf governments are planning to build oil pipelines that will bypass the world’s most vulnerable energy choke point, the Strait of Hormuz, aiming to avoid possible Iranian threats to global oil shipments.
Around two-fifths of the world’s traded oil is shipped by tanker through the Hormuz Strait. But the 54km wide passage is highly vulnerable […]

The head of France’s biggest listed company, oil group Total SA , is being questioned by police in a probe into alleged corruption in Iran, reports Reuters.
Christophe de Margerie, who only moved up to the chief executive’s post at Total last month, has been under investigation for several months by French judges probing corruption allegations […]

The Persian Gulf states need to pump $523 billion over the next 25 years in exploration and production to meet a steady growth in global demand, according to the Abu Dhabi-based Emirates Centre for Strategic Studies and Research in a new book.