BP US CEO Bob Dudley stands back from special Iranian task force

 BP CEO Bob DudleyBP has formed a special task force to study the investment potential of the Iranian oil industry in the post-sanctions era – but, in an attempt to mitigate the risk of the US sticking to its ban on any American involvement in the Islamic Republic, the team is to be headed by its UK-born CFO Brian Gilvary rather than US national CEO Bob Dudley.
Sanctions preventing U.S. companies from dealing with Iran remain in place, despite the deal struck over its nuclear programme in January this year, and the victory of Donald Trump – who has publicly criticised that deal – in the presidential elections has only added to the uncertainty over Tehran’s push to attract foreign investment as it seeks to revive its economy. 
BP CFO Brian GilvaryGilvary’s team will include fellow Briton Rupert Bond, Ireland’s Bernard Looney and Indian national Dev Sanyal and will coordinate the oil major’s operations in the country, as well as leading any discussions with NIOC, the country’s national oil company.
The formation of the BP task force follows recent reports that other oil majors including France’s Total and Norway’s DNO have already cemented their foothold in the Iranian market through development deals; and the exclusion of Dudley from the initiative merely highlights the lengths to which multinationals will go to exploit lucrative new business opportunities in Iran.

Source: presstv