By John Donovan
Royal Dutch Shell CEO Peter Voser is reluctantly considering how best to wean Shell off the supply of blood tainted Iranian oil. Shell is one of the biggest consumers of Iranian oil – see article below.
The relationship between Shell and Iran has continued unabated for many years, while the fanatical Iranian regime has been busy using the funds generated to supply roadside bombs to kill and maim Nato soldiers in Iraq and Afghanistan and fund its Nuclear Bomb program. The oil revenue is crucial to Iran. Hence the sanctions and sanctions busting by Shell.
Trying to avoid the odium of its association with the mad mullahs, Shell resorted to subterfuge to disguise its shipments of Iranian crude.
There is speculation that Peter Voser has asked Khalid al Falih, head of Saudi Arabia state oil company Saudi Aramco, to supply oil to replace lost Iranian barrels. Mr Voser is quoted as saying: “We have a great partnership with Saudi Aramco worldwide.”
What he does not mention is that the Saudi regime is another brutal dictatorship, which just a few years ago blackmailed the UK into abandoning a criminal investigation into corruption surrounding the Saudi Royal family. Shell was a key player in the AL-Yamamah oil for arms scandal.
Royal Dutch sees EU Iran sanctions pushing up oil prices
Royal Dutch Shell will implement the terms of a European Union embargo on Iranian crude but will need some time to study details of the sanctions which are likely to push oil prices higher.
Mr Peter Voser CEO of Royal Dutch said that We are a European company and therefore we are affected by the sanctions and we will obviously oblige and implement the sanctions. I need to study all the details in order to see how it goes forward in the next few months.
Mr Voser said that From a pure commercial prospective, the losers are consumers because at the end of the day it gives us more volatility and upwards pressure on the oil price.
Industry sources said that Shell is one of the biggest consumers of Iranian crude oil taking around 100,000 barrels per day into Europe and about the same quantity into Asia under a deal with Japanese company Showa Shell that expires in March.
Mr Voser said that he had ‘spent quite a bit of time with Mr Khalid al Falih head of state oil company Saudi Aramco at the meeting of political and business leaders in Switzerland but declined to say if he had asked Saudi Arabia to supply more oil to replace lost Iranian barrels. We have a great partnership with Saudi Aramco worldwide.
(Sourced from Reuters)