Undeterred By Trump Threats, Schlumberger Signs Deal With Iran

Oilprice.com ^ | 28-11-2016 | The Ayatollah and his mom

[bananaman22]

Just about everyone right now wants to know where President-elect Donald Trump stands on Iran, and what fate lies ahead for the nuclear deal and the easing of sanctions that have energy companies’ mouths watering—not the least of them oilfield services giant Schlumberger, which has just hedged its bets that sanctions are history despite heavy rhetoric to the contrary.

Schlumberger has signed a memorandum of understanding with the National Iranian South Oil Company for the development of oilfields in Iran’s southern Khouzestan province, making it the second Western energy major to return to Iran after the lifting of most sanctions.

According to the Iranian government, Schlumberger could be involved in up to three Iranian oil fields in an agreement that comes only two weeks after Norway’s DNO oil and gas company also signed an MOU on oilfield development in Iran.

But for Schlumberger, things aren’t that simple.

[Mr. K]

Why is this an issue?
They are risking their money

[WayneS]

They know they are dealing with a bunch of lying a—holes, so as long as Schlumberger doesn’t look to us for a bailout when their deal turns to sh!t I’m okay with it.

[Timpanagos1]

Schlumberger Is good, but here in Texas, we prefer Whataburger.

[ColdOne]

LMAO! I see what you did there!

[faithhopecharity]

it is the company’s risk (in several different ways)
but
it also shows that this particular company has NO loyalty to USA whatsoever (given that Iran maintains its longstanding theats to destroy America with the Nuclear ICBM bombs its amassing..thanks to Obama’s protection, financing, enabling)

dealing with the enemy...ungood...
shame on this company. shame!

[Phil DiBasquette]

Strictly speaking they are not a US company - run out of Curaçao

[KittenClaws]

Schlumberger Is good, but here in Texas, we prefer Whataburger.

---

Ha! Now, as Texans, we all know that it is not pronounced as written, but as “Slumber-Jay”.

[rdcbn]

Donald Trump is not “threatening” Schlumberge, why in the world would he need to do a thing like that.

Trump is basically warning companies world wide that the Trump Iran policy singing to be a lot different than the Obama/Kerry Iran policy that has the Sec of State of the United States flying around the globe pressuring and hard balling foreign governments, banks and huge multinational corps to invest in economic development and technology transfer technology (especially nuclear and aerospace ) to Iran, a hostile terrorist exporting state, for motives and goals that mystify most Americans.

A Trump policy towards Iran is going to have rather negative consequences for companies that try to circumvent the re imposition of sanctions on Iran

[libertylover]

Schlumberger has signed a memorandum of understanding with the National Iranian South Oil Company

Sounds a lot like making a deal with the devil.

[Billthedrill]

Fortunately for Schlumberger, Iran has no past history of nationalizing private oil assets. Oh, wait...

[Stayfree]

Wait a minute, do not judge this on the surface. Even though Halliburton is headquartered offshore to reduce its federal tax liability (which is legal), remember that it is still an American based company employing a lot of US citizens (and a lot of foreign employees because it it world-wide), its stock is owned by a lot of Americans (yes, and foreigners) so that its profits also inure to Americans.

Iran only has 2 choices now to service its oil fields...Halliburton and Schlumberger...and I guarantee that since both of these companies are Western controlled, they can exact a huge profit margin from Iran who can pay whatever they need to get the services of one of those 2 companies. Therefore, if I were Halliburton, I would tell the Iranian regime that operating in their country carries and extremely high risk for which you will have to pay us a substantial premium over our standard rates...let's say 10 times over.

Get the picture!

[Islander7]

Who owns Schlumberger?

A who's who of the financial world. Keep in mind, Slum was founded in France. So there's that...

[armourenthusiast]

This would be illegal if the sanctions were still in effect.

This is either super risky business or possibly treasonous.

Hey, maybe the deal was inked thinking Hillary would win!

Does this company contribute to the Clinton Foundation?

[Antoninus II]

Strictly speaking they are not a US company - run out of Curaçao

Wrong. Their main headquarters is in Paris. They are a French company. Pronounced slumberjay (soft on the j). I should know. I worked for them for about 6 years here in Houston. And I've dealt with their parts for alot longer than that. I'm a Machinist/NC Programmer...