Japan's top energy explorer quits Iran oil project

October 15, 2010 10:10


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

TOKYO —   Inpex Corp., Japan's largest energy explorer, said Friday it is withdrawing from an oil field project in Iran.

Inpex gave no reason for pulling out of the Azadegan oil field in southwestern Iran.

Kyodo News agency said the move was to avoid US sanctions targeting firms doing business in Iran. Inpex has a 10 percent stake in the project.

Inpex officials declined to comment on the report. Inpex said it has consulted with the Japanese government over the decision to quit the Iranian oil project. The government owns a 19 percent stake in Inpex.

Related Content

Breaking news
August 20, 2018
Russia's Putin, despite sanctions, still hopes for better U.S. ties