Firms Reported to Have Commercial Activity in the Iranian Energy Sector and U.S. Government Contracts
GAO-10-721T, May 12, 2010
- Accessible Text:
This testimony discusses our work regarding foreign firms with commercial interests in Iran's energy sector. In March 2010, we issued a report identifying 41 foreign firms that have commercial activity in Iran's energy sector. The report released today identifies which of the 41 foreign firms also have U.S. government contracts.
Based on our review of open source information, we identified 41 firms that had commercial activity in the Iranian energy sector between 2005 and 2009. Of these firms, seven had contracts with the U.S. government. From fiscal years 2005 through 2009, the U.S. government obligated almost $880 million in contracts to these seven firms. U.S. agencies obligated almost 90 percent of these funds for purchases of fuel and petroleum products overseas. Thirteen of the 41 firms listed in our March 2010 report responded to our inquiries regarding their commercial activities in Iran, including two of the seven firms with U.S. government contracts. Since the report was released, four more firms responded, including one firm that noted it had not made a decision about finalizing its commercial activities in Iran.