BP North Sea gas field.

Just been on the news that BP are having to put on hold expanding gas production from a North Sea oil field. Seems it needs permission from the US to do this.

Thought we had voted to 'take back control' from the EU. And open up new markets with countries outside the EU - the US being one of the largest.

But they already apparently have control over our natural resources. I assume we'll see Farage and Rees Mogg on TV shortly denouncing the US?

Reply to
Dave Plowman (News)
Loading thread data ...

formatting link

QUOTE BP has had to stop work on one of its North Sea gas fields due to the reintroduction of US sanctions on Iran in the wake of Donald Trump?s decision to withdraw the US from the Iran nuclear deal.

BP owns 50 per cent of the Rhum gas field, while the Iranian Oil Company holds the other half. The company said: "BP has decided to defer some planned work on the Rhum gas field in the North Sea while we seek clarity on the potential impact on the field of recent US government decisions regarding Iran; Rhum is co-owned by an Iranian company. BP always complies with applicable sanctions." ENDQUOTE

Was it BP or Shell that was done for sanction busting in the 70s ?

Reply to
Jethro_uk

Luckily we're still a member of the EU and they're pushing back against the US sanctions.

I wonder how much clout America the UK would have with had post-Brexit and had only on the "special relationship" to rely on.

Reply to
pamela

None. Liam Fox has already been handed his arse.

Reply to
Huge

Is it not that the company is part us owned? Brian

Reply to
Brian Gaff

The EU with some 16% of world trade might be able to stand up to the US. The UK at 2.5% of world trade is much less likely to, quite besides having to suck up to them for a trade deal for political reasons, which will be 100% biased in US favour under the current administration.

The US is already looking forward to charging the NHS US rates for US drugs (3 times higher than the EU rates for US drugs), when we leave the EU.

Reply to
Andrew Gabriel

Quite. The world rushing to trade with us once outside the EU. To sell us stuff at their inflated prices. And no sign at all of anyone wanting to buy stuff from the UK. We'll be a nice little fish in a very big pond with predators like Trump behind every stone.

Reply to
Dave Plowman (News)

No. But BP has extensive interests is gas and oilfields in the US. The Deepwater Horizon oil rig that exploded off Louisiana in the Gulf of Mexico in 2010 with disastrous consequences was owned by BP. They are also a major player in Alaska. So regardless of the EU it wouldn't pay for BP to piss off the US.

In this case they were just unlucky that half of this particular field is owned by an Iranian firm. The US apparently also have a licence, but that's the way the industry operates with split ownership between numerous parties so as to spread the risks.

michael adams

Reply to
michael adams

It's easy to work it out... 1/5th of the clout we currently have.

In the WTO, we move from top tier to second tier. As a second tier, it's much harder to stike trade deals, because the effort involved by everyone else is usually not regarded as worth the benfits of a trade deal when you are such a small part of the world's GDP, and they are concentrating all their efforts on trade deals in the top tier, with much larger benefits.

Reply to
Andrew Gabriel

Reply to
Andrew Gabriel

Its unlikely that the US will act against any EU country. They will target the part of the business of a multi-national company operating in the USA.

Reply to
alan_m

That is a measure of the success of the EU. In the past the individual countries with no common purpose or support agreement would have been easy meat for US bullying.

Yes, that's the way.

Reply to
pamela

A typical response for a Remoaner to blame US sanctions on Brexit.

What else are you going to blame on Brexit?

You really are scraping the barrel for excuses. Seriously, can't you think of anything better?

Reply to
Fredxx

I am no fan of Trump, but I would rather have him (and the US) as my friend(s) any day instead of our Leader of the Opposition's choice of "friends".

Reply to
JoeJoe

Is the US part of the EU, then? You live and learn.

Perhaps you could remove your head from the Brexit sand, take off your rose tinted specs, and think about it?

Is it totally beyond you to understand your dream of making new trade agreements with major players after we leave the EU is simply pie in the sky? If you just look at current evidence like this?

The US is often quoted as being a natural partner for the UK post Brexit. But likely only on *their* terms.

Reply to
Dave Plowman (News)

They are expected to act against any US company that helps break sanctions. Almost all oil filed support companies are US owned.

Reply to
Martin

It's not blame. It's the effect Brexit will have on UK.

Reply to
Martin

It may surprise you to know that it is not a choice. Many want neither.

Reply to
Martin

But not very effectively. No major multinational is going to risk punitive US sanctions for the modest gains of trading with Iran. US can de facto license world trade and there isn't much we can do about it.

We will lose 5% of our oil/gas production when the sanctions kick in - just in time to make the winter pricing higher and gas availability even more borderline than last year. Industry 3 day weeks loom large again.

formatting link

None at all which is only slightly different to the present situation. The difference is when America says *jump* we ask "How high?" whereas Europe at least asks "Why?" first.

Europe acting as a block can at least have some say in things since it represents a large enough market segment. UK on its own - no chance.

Reply to
Martin Brown
[34 lines snipped]

And this alone is why Brexit is a stupid idea. The EU is big enough to tell the USA to go f*ck itself. The UK on its own? No chance.

Reply to
Huge

HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.