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Japan plans to withdraw from Iran's Azadegan oil field project

10/25/2010
Eric WatkinsOil Diplomacy EditorThe government of Japan and Inpex Corp. plan to withdraw from Iran's Azadegan oil field in an effort to avoid the possibility of violating US sanctions against the country, according to media reports."There are various risks, as we were asked by Iran to invest more in the project," an anonymous government official told Japan's Yomiuri Shimbun, which reported the story along with the Nikkei business daily.If Inpex's name appears on the list of companies subject to sanctions, it would restrict the firm's access to the US market, and could also adversely affect other Japanese development programs in the Middle East and Africa.The withdrawal of Inpex,...
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