Monday, September 21, 2015

Who Will File Iran Notice for NYT Oil & Money Speech?

The SEC requires companies to report:

On August 10, 2012, the President signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012. Section 219 of the Act amends Section 13 of the Exchange Act to add new subsection (r), which requires an issuer that files Exchange Act periodic reports to provide disclosure in its periodic report if during the reporting period it or any of its affiliates has knowingly engaged in certain specified activities involving contacts with or support for Iran or other identified persons involved in terrorism or the creation of weapons of mass destruction. 
Washington Free Beacon reported:

Seyed Mehdi Hosseini, chair of the Iranian Ministry of Petroleum Oil Contract Restructuring Committee, would be a featured guest at the New York Times’ Oil and Money Conference, an annual event held for business VIPs in London.

The Times circulated an invitation to the event, which costs $4,000 to attend, touting Hosseini’s appearance, according to Smarter Times, which first published the invite.

Top U.S. companies are sponsoring the conference. These include Chevron, ExxonMobil, and the Carlyle Group.
How many of these public companies will comply with SEC requirements and report their dealings with Iran, specifically the Chairman of the Iranian National Committee?

Here's his bio from the Oil and Money website:

H.E. Seyed Mehdi Hosseini is the Chairman of the Oil Contract Restructuring Committee within the Iranian Ministry of Petroleum. Within the industrial sector, he has previously served as Deputy Minister for Mines and Metals, a board member of National Iranian Steel Co. and Chairman of the Iran Special Steel Co., as well as serving as Deputy Managing Director, Commercial & Technical Manager and Direct Reduction Project Manager at the Ahwaz Steel Complex.

Mr. Hosseini has held a number of positions within the oil industry. Prior to his current role, he served as Deputy Oil Minister and President of National Petrochemical Co., Deputy Oil Minister for International Affairs, and Deputy Oil Minister and Chairman of the Iran Petroleum Institute. He also served as the Chief Negotiator for out-of-court settlements and disputes between the Ministry of Mines and Metals and the Ministry of Petroleum as well as with American companies before The Hague Iran-US Claims Tribunal. Mr. Hosseini is the designer of the Iran oil and gas contracts model (buyback) and has served as Chief Negotiator for contracts.

Mr. Hosseini has also served as Chairman and President of Petrochemical Commercial Co., President and Member of the Board for Kala Co. and Director of Engineering at the Kangan Gas Project. While working for National Iranian Oil Co., Mr. Hosseini served as a member of the board, Acting Managing Director, Director of Exploration, Deputy Director of International Affairs and General Manager of Foreign Participations and International Contracts.

He serves as a member of the International Society of Petroleum Engineers and the Sub-Commission of the Iran Economic Council as well as Chairman of the Iranian National Committee and Member of the Executive Board and Permanent Council for the World Petroleum Congress. Mr. Hosseini has also served as Chairman of the South Pars Special Economic Zone.

Mr. Hosseini graduated with a BS in chemical engineering from Sharif University of Technology in 1972. He has lectured PhD courses on oil contracts at the University of Imam-e-Sadegh and postgraduate oil contract courses at the Petroleum Institute of Tehran University.
Surely something in this gentleman's laundry list qualifies those paying for his presence to report such as a contract with or support for Iran.  Will it just be the NYT or will it include sponsors?