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Sasol exits Iran

Hydrocarbon Engineering,

UNAI has applauded Sasol for ending its business in Iran. The company has sold its stake in the Arya Sasol Polymer Co., an Iranian venture it partnered with to operate polyethylene plants. Sasol has stated that it ‘has no on going investment in Iran’ now that this stake has been sold.

Exit plans

Sasol first announced its plans to leave Iran in November 2001. After that the company didn’t make any signs of exiting for a year and UANI launched a campaign against the company highlighting Sasol’s business in the country with Op-Ed and billboards. The campaign highlighted that Sasol was pursuing business prospects in Iran whilst running multi million dollar GTL projects in Louisiana, USA.

Comments on Sasol’s exit

UANI CEO, Mark D. Wallace has said the following about Sasol’s departure from Iranian business. ‘We applaud Sasol for exiting Iran. This sale satisfies our concerns with Sasol, and thankfully brings this matter to an end. No responsible company should be doing business in Iran today, particularly if it also wishes to do business in the US.

‘Companies that remain in Iran are risking serious financial reputational harm, and should not expect to be green lighted for work in the US. When businesses are forced to choose between the US market and the Iranian market, they will invariably exit Iran.’

Adapted from press release by Claira Lloyd.

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