Conoco's CEO On Shell Deal With Iran.HOUSTON--(BUSINESS WIRE)--Nov. 15, 1999-- Conoco Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Archie W. Dunham issued the following statement in response to news reports of Royal Dutch/Shell signing an $800 million deal to develop two Iranian oilfields, despite U.S. legislation aimed at punishing such investment by western companies in Iran: "The signing of this agreement should not be surprising to anyone. Non-U.S. companies are free to invest in Iran. "Conoco (NYSE NYSE See: New York Stock Exchange :COCA)(NYSE:COCB) does not believe any western company should be punished unilaterally by the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. for participating in the economy of Iran The economy of Iran is a transition economy where a continuing strong labour force growth unmatched by commensurate real economic growth is driving up unemployment to a level considerably higher than the official estimate of 11%. . We do believe that such economic engagement is vital in order to restore relations between our two governments. "Reports of the participation by Shell once again illustrate that the U.S. unilateral unilateral /uni·lat·er·al/ (-lat´er-al) affecting only one side. u·ni·lat·er·al adj. On, having, or confined to only one side. sanctions policy only serves to eliminate U.S. companies from global competition and do not achieve the effect desired by Washington." Conoco is a major, integrated energy company based in Houston and active in 40 countries. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion