Iran Says Total, Shell Can Be Replaced in Major Projects

(Dow Jones), Apr. 26, 2010

Iran's Revolutionary Guards Corps said it can fill the gap in the country's energy sector left by Western oil firms pulling out in the face of U.S. sanctions, the Iranian Labour News Agency reports on its Web site.

IRGC Brigadier General Yadollah Javani, told the ILNA: "Today the revolutionary guards are proud to have the ability and know-how to easily replace large international firms. For example, we can replace Total and Shell in Assalouyeh big projects."

The head of the revolutionary guards' political bureau called the threat of further Western sanctions "baseless," the agency added.

Referring to U.S. officials' threats, the IRGC official said, "Obama's remark on Iran sanctions [is] based on confusion. The U.S. is retreating back every day from Iran."

Copyright (c) 2010 Dow Jones & Company, Inc.

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